Spotify has signed a deal to buy billboard rights in Latin American countries, the company said. 

Spotify has a deal with Latin American agency A.S.B. to buy advertising rights for the billboard spots on billboard stations in Brazil, Colombia, El Salvador, Guatemala, Honduras, Mexico and Nicaragua, Spotify said in a statement.

The agency will be responsible for developing the digital billboards, and it will have the right to assign and distribute the advertisements on the platform.

Spotify will also use the advertising to create content.

The news comes after Spotify was bought out by US media company Hearst in July.

The deal raised eyebrows in Latin markets and sparked fears that Spotify was using the sale of its billboard rights for commercial purposes.

The deal, which will last for 10 years, also includes the right of Spotify to license the rights for advertising to any third party.

Spotify, which is valued at $8.4 billion, also announced that it had signed a new deal with a Spanish advertising agency for the rights to advertise in Spanish-language newspapers in the region.

Spotify is also expected to use the deal to produce its own television adverts, according to the news agency.