See how much Spotify paid out to the music industry in 2021.
Spotify has revealed that it paid $7billion (£5.3billion) to artists final yr.
The information was printed through its Loud And Clear website, which goals to “enhance transparency” round funds.
The streaming large mentioned that 56,200 musicians acquired greater than $10,000 (£7,500) from Spotify final yr and 130 of those have been paid greater than $5m (£3.8m).
Nonetheless, the figures shared don’t embody the remaining determine the artist receives as soon as labels and publishers have taken their share, which suggests the cash they obtain is commonly much decrease. Songwriters and session musicians obtain even much less.
The service has come underneath hearth beforehand for its low artist funds, with the likes of David Byrne, producer Tony Visconti and David Crosby all criticising the platform not too long ago.
Visconti described the streaming service as “disgusting” over its low funds to artists. “Spotify is disgusting, the cash they make out of [artists],” he mentioned. “For those who had 12 million streams, you possibly can barely afford lunch for 2 individuals. It’s ridiculous, I don’t know why it’s allowed. Spotify does nothing to help the tradition of music.”
In 2013 Byrne criticised the “pittance” artists are paid whereas David Crosby said recently: “I don’t like every of the streamers, as a result of they don’t pay us correctly. Their proportion is mistaken. They’re making billions with a ‘b’ and so they’re paying out pennies with a ‘p.’”
The Music Venue Belief additionally hit out not too long ago at Spotify‘s big new sponsorship cope with FC Barcelona, saying the cash could have helped hundreds of struggling music venues instead.
After previous rumours, it was confirmed that it had secured a groundbreaking sponsorship deal with the world well-known Spanish membership, which can see Spotify’s brand seem on match and coaching kits. The membership’s stadium has been renamed the Spotify Nou Camp.
In a sequence of tweets responding to the information, the MVT mentioned: “For the amount of cash Spotify have agreed to spend on TEMPORARILY branding FC Barcelona they might, as a substitute, have secured a PERMANENT future for circa 700 UK Grassroots Music Venues.
“Such an funding might have unleashed £40million each year into grassroots artist expertise growth, from which Spotify, [Universal, Sony, Warner] and others are the final monetary beneficiaries.”
MVT added: “Not solely that, however an funding of cash in this manner would generate an affordable monetary return, being invested into bricks and mortar and due to this fact remaining an asset. That’s how wise funding works.
“Spotify might have taken this cash, invested it in music infrastructure, stored the asset worth, improved economics for each new/rising artist, and be making a small return on a wise and guarded funding which utterly aligns with the finest pursuits of their firm.”