Spotify launches a site to show how much it pays artists: $5B in 2020, up from $3.3B in 2017, and 13K artists made $50K+ in royalties, up 80% from 2017
however, growth rates illustrate that could be exceeded in the not too distant future WOULD never have happened without the industry leadership and vision of @spotify's @eldsjal $SPOT https://twitter.com/... https://twitter.com/... Daniel Ek / @eldsjal : We'll continue to empower the most talented artists in the world to turn their passion into a profession, grow the money paid to rights holders, diversify and expand the number of professional artists succeeding, and propel the music industry forward. Lucas Shaw / @lucas_shaw : Constantly criticized for not paying artists, Spotify creates a new website to show that it is paying artists quite a lot. https://twitter.com/... See also Mediagazer
Since its 2014 low, the music industry has grown by 44%, driven primarily by streaming revenues which increased 500% over this same period. In 2020 alone, Spotify paid $5B+ and makes up about 20% of global recorded music industry revenue, more than any other streaming service. ⬇️…
There was a time not too long ago when people swore that I was pure evil for suggesting that if the recording industry embraced the internet, instead of fighting it, they could do quite well. Some of those people still think I'm evil. And yet... https://twitter.com/...
I'm a YouTuber who pushes my audience to Spotify at every opportunity... while YouTube's algorithm sunk my channel views, I grew a huge presence on Spotify - which pays 4x as much per stream. 👍 Same time period: https://twitter.com/... https://twitter.com/...
We'll continue to empower the most talented artists in the world to turn their passion into a profession, grow the money paid to rights holders, diversify and expand the number of professional artists succeeding, and propel the music industry forward.
Worth noting US music industry revenues are STILL below their peak in 1999 of $14.6 billion — however, growth rates illustrate that could be exceeded in the not too distant future WOULD never have happened without the industry leadership and vision of @spotify's @eldsjal $SPOT ht…