A new Spotify initiative could spell trouble for record labels (or kill Spotify)

A new Spotify initiative could spell trouble for record labels (or kill Spotify)
ôîòî ïîêàçàíî ñ : thenextweb.com

2018-9-7 03:44

Billboard first let the cat out of the bag in June. In an exclusive, the publication revealed that Spotify had been chasing independent artists, offering sizable advances on future work as well as numerous perks, not the least of which was full control, and ownership, of their future work.

It works like this: Spotify typically pays a record label around 52 percent of revenue generated each time a user streams a song. Of what’s left, Spotify breaks off 15 percent for the artist, and pockets the rest, according to a New York Times report. CEO Daniel Ek has stated, repeatedly, that…

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