Spotify is working to dispel the notion that it takes advantage of the artists and labels who use it.
Spotify has a complicated relationship with musicians. They can scarcely survive without using it in the industry of today, but it has come under fire for how its low royalty payouts have come to devalue recorded music. Not so, says Spotify CEO Daniel Ek. In a statement, he has claimed that the streaming platform paid out $9 billion to music rightsholders over the course of 2023.
This figure is 63% of Spotify’s total 2023 revenue of $14.336 billion, which it shared in their Q4 financials report earlier in the week. The…
