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Universal Music Group, the world’s largest music company, and streaming behemoth Spotify yesterday announced a multi-year direct deal that will affect ...

Universal Music Group and Spotify on Sunday announced a huge multi-year direct deal that will affect both recording and publishing royalty rates.

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The partnership will help Spotify make "paid music subscriptions even more attractive to a broader audience of fans around the world," that company's CEO Daniel Ek said in the statement.