Spotify launched a new website on Thursday to solve the problem of how to pay royalties, but failed to ease the anger of musicians who struggled to survive in the streaming era.
Spotify said on its new Loud & Clear website: “Artists should have an understanding of the economics of music streaming,” he added, with the aim of “by sharing new data on the global streaming economy and breaking the royalty system, players and Player to increase transparency. Process”.
It said that 13,400 artists generated US$50,000 (approximately Rs 36.2 billion) or more in revenue from its apps last year, while 7,800 artists generated more than US$100,000 (approximately Rs. 7.25 million) in revenue.
But it added: “Spotify will not directly pay artists or songwriters. Instead, Spotify will pay rights holders… Once the income is removed from Spotify, how much the artist or songwriter will receive depends on their relationship with Agreement reached by right holders.”
Indeed, singers with major record labels usually only account for 20% of these revenues, and may have to divide the rest between band members and managers.
This means that many of these 13,400 artists may only earn about US$10,000 (about Rs 720,000) in annual income, and only after they have paid off the record company’s initial debt.
A study by the French National Music Center recently found that 10% of Spotify and Deezer’s total revenue comes from only the top 10 superstars.
In recent months, as record companies have announced record profits through streaming media, musicians around the world are increasingly talking about their finances, and everyone except top artists is making a living.
On Monday, protests took place outside Spotify offices in several cities around the world as part of the Allied Justice League and the musicians at Spotify events.
The union stated: “Spotify has failed to meet any of our needs. The company has always blamed others for the system it has built, and has established a valuation of nearly 70 billion U.S. dollars (approximately 508.04 billion rupees) based on this,” said in a report to American Music Magazine. In a statement issued by Pitchfork.
Candidates are asking for information about Spotify contracts with major record companies and whether they need to spend money on other content, such as playing certain songs.
The company’s new site postponed the need for pay-per-stream, noting that there are now more than 550,000 tracks and more than one million streams. Instead, the payment is based on the artist’s share of the total.
Spotify also stated that they are skeptical of adopting a user-centric model, in which the monthly fee per subscriber (usually around US$10 (approximately Rs 73)) flows only to artists in their genre, not Inflow one is based on global drama.
It said: “If artists, songwriters and rights holders want to do this, we are willing to switch to a user-centric model.” “However, Spotify cannot make this decision alone-it needs broad industry consensus to achieve this change. .”
Research shows that a user-centric model may only have a small impact on low-level musicians, but activists say it’s better than nothing, and will encourage more investment in niche game types, and essentially Speak more fair. They accused the main label of blocking this action.
Soundcloud became the first streaming service this month to introduce user-centric payments, but only for 100,000 independent artists who directly monetize their website.
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