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Spotify announced Wednesday that it is nearing $40 billion in payments to music rights holders so far.
The company continues to announce that it returns nearly 70% of every dollar it makes from music to the industry. Subscription fees from paid subscribers on premium platforms and fees from ads for music in the free tier.
These rights owners include record labels, publishers, independent distributors, performance rights organizations, and rights management societies. It is important to note that payments are made first to the rights holders. Artists and songwriters are rare. The rights holder then takes a fee or percentage and pays the creator a cut.
It detailed that over the last two years, it has paid over $3 billion to collection associations representing publishers, PROs, and songwriters.
With 205 million paying subscribers, Spotify remains the world’s largest paid music streaming service, with its largest territory in the United States.
These announcements, made at the company’s “Stream On” conference, come at a time when major music companies are asking Spotify to raise subscription prices, as Apple Music and Amazon Music have already done. I was. Spotify’s US streaming subscription prices haven’t risen since the company launched in the country nearly 12 years before him.
For details, the company said Spotify’s nearly 3,000 heritage artists — artists whose streams come from tracks that are over five years old — generate “substantial passive income” on their catalog. also reported.
According to the company, the number of artists making $1 million or more and $10,000 or more each year has more than doubled in the past five years, with about 1,060 artists (up from 460 in 2017) joining the million category. and about 57,000 for $10,000 (up from 23,400 in 2017).
It also said that from 4,300 in 2017, more than 10,100 artists made at least $100,000 from Spotify alone.
“These numbers represent Spotify’s revenue alone,” the announcement details. “Considering revenue from other services and recorded revenue sources, these artists likely generated four times as much revenue from all recorded music sources as he did.”
Over 25% of artists who have earned $10,000 or more point to self-releasing their music on Spotify through distributors such as DistroKid, Tunecore and CD Baby.
Finally, we point out that as of December 31, 2022, 360 song streams on the platform have surpassed 1 billion, 13,000 songs have surpassed 100 million, and 914,000 have surpassed 1 million. bottom.
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