Spotify’s premium plans combining music and audiobooks will mean a lower mechanical royalty rate for songwriters on those plans, the company has confirmed, although it claims that earnings for creators will continue to rise.“Spotify is on track to pay publishers and societies more in 2024 than in 2023.
As our industry partners are aware, changes in our product portfolio mean that we are paying out in different ways based on terms agreed to by both streaming services and publishers,” the statement reads. “Multiple DSPs have long paid a lower rate for bundles versus a stand-alone music subscription, and our approach is consistent.” The final sentence is in reference to plans offered by Amazon — which offers its music streaming as part of its Prime service — Apple and others.
Spotify unpacks details on the nearly $4 billion it has paid to music publishers representing songwriters over the past two years in the “Loud and Clear” section of its website.
The move reflects a reordering of the company’s plan offers. On March 1, Spotify introduced the Audiobooks Access Tier, a new standalone offering for audiobook enthusiasts in the U.S.
Read more on variety.com
Get the latest stars news and celebrity rumours with exclusive stories, photos, videos and interviews.
Breaking up, scandals, engagements, divorces, gossip – all you need to know about the private lives of your favorite celebs.
Get to know the latest showbiz news along with exclusive interviews and even more. All this is waiting for you on the main page 24 hours a day, 7 days a week! Who, where, when, with whom, how, why and for what!? Stay tuned to know first!
Just follow us daily and we will provide you with the current news from the life of famous stars and celebrities.
Owner: SNOWLAND s.r.o.
Registration certificate 06691200
Address:
Snowland s.r.o.
16200, Na okraji 381/41, Veleslavín, 162 00 Praha 6
Czech Republic
©2024. All rights reserved.