Spotify strikes deal with Universal Music to let premium users create AI covers, remixes

Spotify has struck a deal with Universal Music Group to let subscribers create AI-generated covers and remixes of songs, marking the first time the audio-streaming giant will allow users to produce AI content using its platform.

Shares of the company rose around 16%.

The companies did not disclose ‌the financial ⁠terms of ⁠the deal or which artists will participate in the new feature in their joint announcement on Thursday. Universal Music is home to artists including Taylor Swift, Ariana Grande, Drake and Billie Eilish.