03/29/2022 at 09:53
HONOR
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Spotify has revealed it paid $7 billion to music industry rights holders last year., which represents almost 25% of the total income of the industry. The news came from the company’s Loud And Clear website, which launched last year with the aim of “increasing transparency” around its payments.
The streaming giant stated that the 52,600 artists earned over $10 billion from Spotify in 2021. Of those, 130 were paid more than $5 million in the last 12 months. Spotify did not name any of the artists involved, but its most streamed acts last year were Bad Bunny, Taylor Swift, BTS, Drake and Justin Bieber; while the most listened to song was Driver’s license by Olivia Rodrigo.
However, the streaming giant’s gross numbers don’t tell the full story.. For example, an artist whose music earns $10,000 in royalties from Spotify might only receive $2,000 once the record label and publishers take their share of it.
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