Spotify and Sony Music Group extend partnership to shape the future of music streaming
The renewed deal promises better payouts for artists and songwriters, plus fresh innovation for listeners.
Spotify and Sony Music Group are keeping their long-standing partnership alive, striking a new deal that’s all about pushing music streaming into its next era.
The agreement covers both Sony Music Entertainment and Sony Music Publishing, aiming to bring real innovation that benefits artists, songwriters, and fans alike.
The announcement came in a similar fashion to Spotify’s deals with Universal Music Group, Warner Music Group, and Kobalt earlier this year. All of which, pledge support to furthering music streaming.
What’s in the deal?
One key piece is a new direct licensing arrangement between Spotify and Sony Music Publishing in the US. This move should help songwriters see a more direct share of streaming revenue, and is something the industry has been pushing for.
Beyond royalties, the deal is also about product innovation. Spotify’s deal focuses on exploring “futuristic approaches” to streaming. Think new tools, features, and possible fresh subscription offerings.
“Sony Music Group and Spotify have long been mutually committed to advancing music streaming… we’re working to develop futuristic approaches that ensure our artists and songwriters remain appropriately compensated for their work, and audiences are getting a high quality experience that’s ever evolving.”
Rob Stringer, Chairman of Sony Music Group
A look at the future of streaming
This announcement feels like another step toward Streaming 2.0, the next era in music streaming. Rumours of Spotify’s long-awaited “Super Premium” subscription refuse to go away.
However, with Spotify recently adding lossless audio and AI mixing tools to its Premium subscription (features that were rumoured to be a part of its supremium tier), it remains to be seen what other product offerings could be in the works. Perhaps this Sony deal could help pave the way?
The takeaway
While the intricacies of the deal remain private, the bigger picture is clear: Spotify and Sony want to reshape streaming for the better. If their vision delivers, artists, songwriters, and fans all stand to gain a richer experience.
“Our partnership with Sony is built on a shared drive to shape the future of music. Together, we’re accelerating the pace of innovation to create powerful new opportunities and increasing revenue for artists and songwriters.”
Daniel Ek, Spotify’s Founder and CEO