Universal Music Group and Spotify join forces to seal a massive deal that could forever change the future of the music business.

Spotify and Universal Music Group have announced a new, multi-year direct licensing pact that will cover the United States and several other companies, according to a Sunday release. "When we first presented our vision for the next stage in the evolution of music subscription several months ago -- Steaming 2.

Universal Music Group (UMG) , the world's biggest music label, and Swedish streaming giant Spotify have reached a new multi-year agreement for recorded music and music publishing, they said on Sunday.

The deal establishes a direct license between Spotify and Universal Music across the streaming subscription service’s current product portfolio in the U.S. and beyond, the companies said.

The new publishing agreement establishes a direct license between Spotify and Universal Music Publishing Group.

Spotify and Universal Music Group (UMG) have signed a new multi-year agreement for recorded music and music publishing. The partnership, which is focused on growth and innovation, will help "the advancement of artists' and songwriters' success."

Spotify and Universal have reached a multi-year publishing agreement, which will see new subscription tiers and a richer content catalogue.

Spotify (SPOT) and Universal Music Group (UMGNF) entered a new multi-year agreement aimed at enhancing the music streaming experience for both artists and consumers.

Universal Music Group NV and Spotify Technology SA reached a new multiyear distribution agreement that includes compensation for recorded songs and publishing rights.

Spotify and the Universal Music Group have struck a new deal that will expand platform monetization and change how songwriters get paid for streams.