Let me get this straight.
The CEO of Spotify, who does not know how to play any instruments or arrange a piece of music or write a song, just posted that for Q1 of 2024 Spotify posted $1 billion in profit. Then, announced that they are raising the monthly subscription fees and none of that is going to the artists. Also, introduce a minimum threshold of 1000 streams before the artist can qualify to get paid the very low (pennies) amount per stream.
one of many examples: Peter Frampton recently posted: “For 55 million streams of, ‘Baby I Love Your Way’, I got $1,700,”
I know it’s not just up to the CEO for a publicly traded company.
Still.
Talk about greed and out of touch.
I am posting this because music has been and is one of the most important aspects of my daily life. Music has helped me through some very hard times. Too many to count.
There are so many amazing new and old artists and music out there. All it takes is just a little effort with many modern tools to discover, listen and purchase. I buy directly from artists whenever it’s available or purchase CDs, Vinyl, or digital downloads to better support the artists.
I am aware that it’s not that simple and we have to be more actively involved, but it seems that there is a lot of money left on the table from the Spotify model. The system is broken. There are many other similar business models that are in the same state of “growth” that take advantage of talents. We tend to fall into the convenience of things for the short-term benefit, but we pay for it in the long run. We should do better as human beings. We can do better.
#spotify #music #artist #streamingmusic #fairpay #wecandobetter