The terms of the deal were not clear, Billboard reported.
The deal with Sony would be the second major label deal for Spotify, which is looking at a possible floatation this year.
The company signed a multiyear license agreement with Universal Music Group in April.
The music streaming service remains in licensing talks with Warner Music Group, Billboard reported.
Spotify declined to comment for Reuters. Sony Music and Warner Music Group were not immediately available for comment outside regular business hours.
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