Spotify is planning to make "significant changes" to its royalties-payout model in Q1 2024. Per a report in Music Business Worldwide, the streaming giant intends to move $1b in royalty payments to "legitimate" artists and rightsholders over the next five years.
According to MBW, Spotify has been discussing the details with various rightsholders in recent weeks. The publication's sources say the company will continue its pro rata royalty system (Streamshare) but with the following changes:
With these changes, Spotify's focus will be to "combat drains on the royalty pool—all of which are currently stopping money from getting to working artists," as one of MBW's sources noted.
It seems that Spotify's approach aligns with the "artist-centric" methodology being touted by UMG and Deezer. Stay tuned for updates.
LUCY DICKINS:
THE HITS INTERVIEW Adele's right-hand woman gets acclimated to L.A. (9/12a)
HITS' FIRST LIVE ISSUE TAKES THE STAGE THIS FALL
We're manning the merch table. (9/9a)
| ||
THE GRAMMY SHORT LIST
Who's already a lock?
COUNTRY'S NEWEST DISRUPTOR
Three chords and some truth you may not be ready for.
AI IS ALREADY EATING YOUR LUNCH
The kids can tell the difference... for now.
ALL THE WAY LIVE
The players, the tours, the enormous beers.
|