Link: Spotify says that streaming has made the world ‘value music’

Spotify aims to reach 1 billion paying subscribers, doubling its current user base, including those on competing platforms. The company views streaming services as beneficial for artists, promoting the habit of paying for music.

On Tuesday, Spotify announced a significant $10 billion payout to the music industry for 2024. Since its inception in 2006, Spotify has contributed nearly $60 billion to the music sector.

David Kaefer, Spotify's VP, noted a sharp increase in the number of artists earning substantial revenues from the platform.

From 2014 to now, the number of artists making over $100,000 annually from Spotify alone has significantly increased.

Despite its success, Spotify has faced criticism for low per-stream payouts compared to competitors like Apple Music and YouTube Music.

Yet, Spotify contends it optimizes for higher overall artist payouts, frequently releasing payout figures to counteract criticism. #

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Yoooo, this is a quick note on a link that made me go, WTF? Find all past links here.