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.

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.

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

Spotify (SPOT) and Universal Music Group (UMGNF) entered a new multi-year agreement aimed at enhancing the music streaming experience for both artists and consumers.