Universal Music Group and Spotify join forces to seal a massive deal that could forever change the future of the music business.

Spotify and Universal Music Group have announced a new, multi-year direct licensing pact that will cover the United States and several other companies, according to a Sunday release. "When we first presented our vision for the next stage in the evolution of music subscription several months ago -- Steaming 2.

Universal Music Group, the world’s largest music company, and streaming behemoth Spotify yesterday announced a multi-year direct deal that will affect

Universal Music Group and Spotify announced multi-year deals to advance streaming innovation, benefit artists, songwriters, and consumers.

The new publishing agreement establishes a direct license between Spotify and Universal Music Publishing Group.

The deal establishes a direct license between the companies across Spotify’s current product portfolio in the U.S. and beyond.

The deal focuses on what the companies call "Streaming 2.0" - the "next stage in the evolution of music" rooted in new paid subscription tiers and an expanded content catalog, as well as artist and user perks.

Spotify is probably the worst thing that has happened to musicians.” Despite new agreements between the world’s largest music label and one of the largest providers of music streaming services, the Icelandic artist’s words continue to ring true.

Universal Music Group and Spotify on Sunday announced a huge multi-year direct deal that will affect both recording and publishing royalty rates.