![]() Let’s not pretend otherwise.Īs much as 50 percent of global recorded music revenue owed to creators is siphoned off by an orgy of intermediaries that skim, delay or simply withhold payments due.Ī tangle of licensing bodies, antiquated copyright mechanisms, a lack of international standards and few financial incentives to do the right thing further hinder creators getting their fair share of ballooning global digital income. The only beneficiary is Spotify, that is, if they can successfully manipulate Wall Street to back an IPO predicated on a business model that is extremely flimsy. ![]() ![]() So you can say ‘more users means more people means more success,’ except that it’s not actually working out that way for rights owners and artists. Rather, it is an indication of an extremely narrow and sophisticated pump-and-dump play generated by investors like Goldman Sachs (a lead investor in Spotify). So, take Spotify: 20 million paid subscribers, which increases the per-play, and 55 million free users, which drags it all down into the gutter. Larger services like Spotify amass gigantic amounts of free users, all of whom collectively drive down per-stream royalties. That is not an accurate assessment, and misses a critical point that major labels, rights owners, and anyone tied into the recorded asset are trying to solve.
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