Spotify is feeling the effects of Taylor Swift pulling her music from the streaming service. Only a week after they begged for her reinstatement (she shunned them from streaming her platinum 1989 album), Spotify founder Daniel Ek has written a dissertation of why they have helped the industry, by paying artists, instead of watching other competitors not pay a single penny to artists, labels or publishers.
It seems like more desperation tactics from the company, who is probably losing out on millions by not Taylor’s music on there, but she’s not looking to buck down either way.
Read a statement from Daniel Ek After the jump….
“At our current size, payouts for a top artist like Taylor Swift (before she pulled her catalog) are on track to exceed $6 million a year, and that’s only growing – we expect that number to double again in a year. Any way you cut it, one thing is clear – we’re paying an enormous amount of money to labels and publishers for distribution to artists and songwriters, and significantly more than any other streaming service.”
Read the entire post over at Spotify.
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