Streaming royalties: By the numbersĪccording to Spotify, 184,500 artists generated over $1,000 in royalties in 2020, with 870 artists generating over $1,000,000.
"Artists should stand up and start to be represented in some way when these licenses occur with streaming companies," Greenwood stated. "You can't really place blame on a streaming service or a record company because it's so brand new, but at the same time, the artists haven't been at the table," he continued. Greenwood maintains hope that artists will soon be part of those royalty conversations as "streaming companies have relied on the record companies and the master holders to report to the artists, but this is a whole new kind of paradigm and a whole new world." Guillermo Page, former record label executive and professor Streaming has provided stability.the business has become predictable.
"The artist has not really been in the room for those conversations," Greenwood admitted, directly referencing the complicated relationships artists have with the current payment structure. Taylor Swift famously pulled her "1985" album, along with the rest of her catalog, off of Spotify back in 2014, as a means of protesting artist compensation in the digital era. Yet market share alone doesn't guarantee total power to streaming platforms. subscribers, followed by Apple Music ( AAPL) at 15%, Amazon Music ( AMZN) and Tencent ( TCEHY) tied at 13% YouTube Music ( GOOGL) rounds out the top five at 8%. Spotify ( which went through a very public reckoning earlier this year over Joe Rogan's controversial podcast) leads the way, capturing 31% of total U.S. Citzien Cope notes that streaming has created a 'whole new kind of paradigm' in music.Īccording to IFPI's latest Global Music Report, paid subscription streaming revenues increased by 21.9% to $12.3 billion in 2021, up from 18.5% in 2020.Īt the end of 2021, there were 523 million users of paid subscription accounts. WASHINGTON, DC - MAY 24: Citizen Cope performs during the NAMM TurnAround Arts Artist Reception at Nelson Mullins on in Washington DC.
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