It is no secret that Spotify is not an enormous money maker for most artists. However, in its annual Loud & Clear report, the music streamer is making an attempt to vary the narrative, reiterating an earlier declare that it paid artists $10 billion in 2024 ($60 million since launching) and including that these funds elevated tenfold during the last 10 years.
Spotify throws in fairly a couple of different massive numbers into the 2024 report. It claims that the 100,000th most streamed artist additionally noticed a tenfold enhance over a decade, receiving $6,000, up from $600. In the meantime, the ten,000th most streamed artist reportedly obtained $131,000, up from $34,000. Plus, it experiences that nearly 1,500 artists generated over $1 million.
Regardless of these numbers, Spotify nonetheless would not maintain a lot goodwill from artists. For starters, a report from music catalog buyer Duetti discovered that Spotify paid out $3 per 1,000 streams in 2024, whereas the identical determine gave artists $4.80 at YouTube, $6.20 at Apple Music and $8.80 at Amazon Music. In an announcement after the report’s launch, Spotify advised TechCrunch, “These claims are ridiculous and unfounded,” and argued that music platforms do not pay by stream.
In January, Billboard reported that 4 of the 5 artists nominated on the Grammys for songwriter of the yr selected to skip Spotify’s Grammy celebration for songwriters — all of Spotify’s Grammy parties had been finally canceled due to the Los Angeles wildfires. Songwriters, together with Jesse Jo Dillon and Amy Allen, each cited Spotify’s resolution final yr to bundle audiobooks and songs in subscription tiers. The publication had previously reported that the new premium, duo and family tiers meant songwriters obtained paid a reduced bundle price, shedding an estimated $150 million in US mechanical royalties over the primary 12 months.
This text initially appeared on Engadget at https://www.engadget.com/leisure/music/spotify-tries-to-defend-its-artist-payout-rates-120021659.html?src=rss
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