Get the latest gossip
Spotify Paid Over $4.5 Billion to Music Publishers Over the Last Two Years, So Why Are Songwriters Struggling?
Spotify paid $10 billion to the music industry last year, with $4.5 billion to publishers across 2023-24. So why are songwriters still struggling?
The company — the world’s largest paid music-subscription service by a wide margin — maintains that it pays out 70% of every dollar it generates to the music industry, a generous percentage for any business. It also states that its music-publishing payout “hit a new peak in 2024, seeing double-digit-percentage growth compared to 2023,” adding that “Songwriters – through their publishers, performing rights organizations, and collecting societies – are generating record-breaking revenues driven by streaming services.” But those numbers don’t take into account the fact that most hit songs these days have between 3 and 12 writers splitting that 68% of the 14% of that $.004, and that they have managers and possibly other interested parties earning a percentage of their share.
Or read this on Variety