Universal Music, SoundCloud in Talks to Increase Artists’ Share of Streaming Revenue (Report)
Bloomberg reported, citing people familiar with the talks.The goal is to reach a deal by the end of the year, the report said, noting the exact details are not yet worked out.While music sales have risen in recent years, artists and record labels say they are not getting paid enough. And now that music industry growth is slowing, even as fraud and piracy continue to siphon revenue from everyone in the business, the issue is even more complicated.Streaming giant Spotify, for instance, said earlier this year that it has paid out nearly $40 billion to music rights holders since its launch in 2006.