Spotify Respond to Thom Yorke, Confirm Paying Artists $0.007 Per Stream

artist: Spotify date: 12/04/2013 category: entertainment
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Spotify Respond to Thom Yorke, Confirm Paying Artists $0.007 Per Stream
Responding to Thom Yorke's recent accusations, Spotify have made their payments public, confirming artists earn an average of $0.007 per song stream. Although some claim the figure supports Yorke's meagre payment comments at first, the company stresses the importance of looking at the big picture, noting that on average, a "niche indie album" generates $3,300 per month, while a "global hit album" fetches $425,000. Going into more specific figures, the Swedish platform revealed that payments range from $0.006 to $0.0084 per stream. Furthermore, details regarding Daft Punk's "Get Lucky" hit single were unveiled, confirming the tune garnered a total of almost $108 million from 78.6 million streams between June and August. The given amount is split between the label, publishers, collecting societies and the French duo. According to Independent, Spotify also noted that it's royalties are much higher than the ones offered by YouTube, pointing out that $500 million was paid in royalties during 2013 alone. Since the 2008 launch, the payment figure had crossed the $1 billion mark. The platform is also promising to increase the monthly indie rock earnings from $3,000 to $17,000 after expanding its subscriber base from 6 million to 40 million. At the moment, Spotify has over 24 million active users. Accusing the company for trying to become the "gatekeeper" of all music, Yorke described Spotify as "the last desperate fart of a dying corpse." The musician had also quit the service with his band Atoms for Peace. So now that the figures are public - do you think Spotify can help bring the industry back on feet and more importantly, help artists in their future work?
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