Sony Music, Spotify strike licensing deal

News Hour:

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 floatation 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.

Mridha Shihab Mahmud

Mridha Shihab Mahmud is a writer, content editor and photojournalist. He works as a staff reporter at News Hour. He is also involved in humanitarian works through a trust called Safety Assistance For Emergencies (SAFE). Mridha also works as film director. His passion is photography. He is the chief respondent person in Mymensingh Film & Photography Society. Besides professional attachment, he loves graphics designing, painting, digital art and social networking.
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