Following the cancelation of its "Hateful Content" policy, Spotify will now being offering advances to indie musicians and artist managers, reports Billboard. The streaming service will in turn be given licensing of said act's music.

"Under the terms of some of the deals, management firms can receive several hundred thousand dollars as an advance fee for agreeing to license a certain number of tracks by their independent acts directly to Spotify," says Billboard.

This will allow managers and musicians to receive 50 percent of the revenue per stream in some cases, while artists can still license their material to other platforms as well.

Spotify is not acting as its own record label, however, but the individual deals do allow the streaming service to pay a slightly lower share of revenue to acts, in comparison to a major record label.

For more on Spotify's new policy, visit Billboard.

In other music-related news, Kanye West's co-founded Donda's House has officially changed its name.