Spotify has yet to show profit as it spends to grow internationally.
Music streaming service Spotify said on Thursday it had struck a multi-year license agreement with Merlin, a digital rights agency for the independent label sector.
Spotify said the deal continued a nine-year partnership with Merlin, which is its fourth largest partner.
Spotify, which has not yet shown a profit as it spends to grow internationally, is considering a potential U.S. stock market listing, according to a February TechCrunch report.
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