Sony Music strikes licensing deal with Spotify says Billboard

The deal with Sony would be the second major label deal for Spotify, which is looking at a possible flotation this year.

Photo by: Reuters
Photo by: Reuters

After several negotiations, music streaming service, Spotify has signed a licensing agreement with Sony Music Entertainment.

Sony Music Entertainment has reached a licensing agreement with streaming music service Spotify, Billboard reported, citing sources.

The terms of the deal were not clear, Billboard reported.

The deal with Sony would be the second major label deal for Spotify, which is looking at a possible flotation this year.

The company signed a multiyear license agreement with Universal Music Group in April.

The music streaming service remains in licensing talks with Warner Music Group, Billboard reported.

Spotify declined to comment. Sony Music and Warner Music Group were not immediately available for comment outside regular business hours.

Source: 
TRTWorld and agencies