By BOB BROWNBROOKBROOK, New York — It was the first time a music publisher had ever taken that step.
In a rare moment of cooperation, Universal Music Group CEO John Landgraf and his longtime associate, longtime music producer Michael D’Antonio, signed a licensing agreement with Spotify to make a music streaming service that would be the company’s first in the United States.
Spotify will have access to the catalog of over 150 million songs, as well as the catalogs of nearly 3,000 independent labels.
Spotify also will offer a free subscription service that will allow users to stream a number of popular music albums from major labels, including albums from artists such as Justin Timberlake, Beyoncé and Adele.
Spotify CEO Mark Zuckerberg, who is also Spotify’s co-founder and CEO, said he is “very excited” to have the opportunity to work with Spotify and is excited to help the company become “one of the most successful music publishers in the world.”
Spotify has a $6 billion market cap, but it has faced criticism that its product isn’t very compelling.
Spotify has also faced criticism for its slow and sometimes slow-moving response to the flood of lawsuits, which have come as the streaming service faces the possibility of being taken off the market.
As of July 1, Spotify had nearly 5,500 lawsuits pending, which are being litigated.
The lawsuits are the most recent issue in a long string of legal disputes.
Landgruff and D’Anonio said they plan to take the company public sometime this year.
“We’re going to be public for sure,” D’Aonio told the Associated Press.
“This is going to happen soon.
We’ve done it before.
We’re doing it again.”
The agreement is a landmark moment in the music industry, where it is not uncommon for music publishers to take steps to address patent issues.
Many of the big music labels have signed licensing deals with the likes of Spotify, which has had trouble attracting mainstream listeners because of piracy and other problems.
In the early 2000s, the music companies negotiated a licensing deal with Apple Inc. That agreement, which came to be known as the Apple Music license, allows Apple to own the catalog for music and TV streaming services.
But Apple was accused of paying royalty fees to streaming services, and the companies have been locked in litigation ever since.
Spotify, by contrast, is owned by Facebook Inc., which has struggled to gain mainstream audiences with its own music streaming services and its own digital music service.
The company’s new deal with Spotify is a major step forward in the company trying to reach a broader audience with its new music service, which will be available to the public on Aug. 4.
“Today is a very exciting day for music, but most importantly for our company, the artists who make it,” Landgrier said in a statement.
“They will get to hear their music in their own voices on a platform that they control and control for themselves.
It will allow them to continue to create music without relying on any outside companies for the rights to their work.”
The deal is not without its critics.
The Recording Industry Association of America said the deal will allow a monopoly for a major company, and music industry analysts have said it is a poor deal for music companies that have struggled to attract listeners.
“The RIAA is calling it the worst deal ever for artists,” said Dave Siegel, an analyst with the Recording Industry Group.
“I think it’s a terrible deal for the artist because they will not get to be able to use Spotify for their music.
It’s a great deal for Facebook and Apple.”
Landgrer said the company would work to find a new licensing deal for Spotify.
The deal has been negotiated in secret, with little fanfare, and he and Dauphin have yet to release an initial public offering.
Landgrifft said he and his team will work to make Spotify a valuable asset to artists, who will have the ability to pay for the exclusive rights to use their songs.
Spotify’s new music streaming will be free to all users, but users will pay a subscription fee.
“That’s going to provide a great service for the artists, and I think it will also provide a service for all of our listeners,” Landgriff said.
“There will be a lot of value to all of the music consumers, whether they listen to it on Spotify or they listen through our service.”
Spotify is hoping that its new service will be the start of a wave of streaming services that would eventually be available for the entire music ecosystem.
The service will likely not include every song that Spotify has, though some of the major labels’ music albums will be included.
Spotify says it plans to launch streaming services in the U.S. in the next year.
The music streaming market is expected to grow to $5.9 trillion in 2020, up from $4.9 billion in 2016, according to research firm