UPDATED: Spotify has completed deals with two of its major-label partners in what were expected to be contentious licensing renegotiations. EK did not elaborate as to which of the two - Warner Music Group, Universal Music Group Sony Music Entertainment and perhaps indie licensing giant Merin - had signed new agreements during an earnings call Wednesday.
The full statement:
"We have reached agreement with two of our four major label partners on the renewal of our global sound recording licenses, and are in active discussions with the other two. This is the sixth round of label negotiations we’ve worked through in our 13 year history and, while it is typically a long drawn-out process, it has become part of the normal cadence of the business."