Spotify – What It Means For The Artist
Today’s technologically advanced world has seen the platforms for listening to music change frequently; gone are the days of the gramaphone, LP’s are virtually obsolete, with many of the younger generation having never played one, and although CD’s are still available more and more people are turning to streaming/downloading their favourite tunes from the internet. In recent years there has been a lot of controversy over the issues of copyright, which has led to platforms enabling people to purchase/download via subscription services, such as Spotify and iTunes.
But What Does This Change In Purchasing Mean To The Artist?
In days gone by the recording artist would have been paid royalties, based upon the number of sales of their albums, but with free music streaming and subscription services that has changed. Royalties are still paid but is some potential revenue lost with free streaming?
We take a look at the figures: