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ISRAELITE SIZES UP SPOTIFY'S PRICE HIKE

Spotify's subscription-price increase to $10.99 will have a sizable impact on the music-biz bottom line. So says National Music Publisher's Association President/CEO David Israelite, who estimates that millions of dollars will go toward music publishers and songwriters.

"I can't answer how much for the entire music industry since I don't see label contracts, but I can estimate it will lead to approximately $200m more in the US for songwriters and music publishers per year," Israelite tells us. "Assumption assumes current number of subscribers with no growth. Now leave me alone so I can make this four-footer."

Music execs have long encouraged all streaming services to increase their basic monthly price and explore other pricing options and tiers in hopes of creating more of a “windfall” for labels and artists. The $1 bump in price marks Spotify's first increase since 2011. Current customers are being given a one-month grace period before the new price becomes effective. The price hike will also take effect throughout Europe and South America and parts of Asia.

Needless to say, this is a big win for music publishers and songwriters. The same can't be said about our golf game.

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