A new survey has found that Spotify gives eighty percent of all musicians less than £200 a year, as artists call for fairer financial pay-outs.
The popular streaming service Spotify is facing renewed scrutiny for not paying artists enough in royalties.
Despite being the world’s biggest music platform that has earned record labels over £3.3 billion in revenue so far this year and boasts over 144 million paying subscribers, the actual amount artists receive is relatively small. Playing 30 seconds of a song earns the rights holder an average of £0.0028 per stream, meaning you’ll need a ton of plays to see any genuine cash.
A new survey published by The Ivors Academy and the Musicians’ Union has found that ‘eight out of ten’ artists on the platform receive less than £200 a year, making song writing an unsustainable hobby or career venture for most – unless you’re Ed Sheeran, Drake, or Ariana Grande. We’ve written before about how artists and creators feel the current monetisation model is unfair, and Nile Rodgers will be addressing MPs in the UK this week to discuss the ins and outs of the current economic system in the hopes of making a change.