Universal Music Group CEO Lucian Grainge sees future growth for his own major music label and others coming from new partnerships with top streaming platforms.

Talking to Wall Street analysts after the release of Umg’s fourth quarter results, Grainge said the years of the music industry being hobbled by piracy and copyright and IP ownership abuses had been replaced by partnerships with global music streaming platforms like Amazon, Apple and Spotify.

“Where they go, we go with them, hand in hand, investing in local talent,” Grainge told analysts during a conference call. The Umg boss welcomed new multi-year licensing deals with Spotify and Amazon Music. “These agreements provide for new paid subscription tiers, the bundling of music and non-music content and a richer audio and visual content catalog that will benefit artists, songwriters, platforms and consumers alike.”

The deals are part of Umg’s Streaming 2.0 plan, the music label...