Streaming giants Spotify have announced their new royalty system. They claim to have modernised it, which will add another $1 billion to the pot of both emerging and established music artists.
Spotify have said they’re introducing new policies to their platform. Music artists have complained since the start of music streaming about unfair pay. The amount they earn from each stream isn’t enough for most to make their passion a full time career. Now, with Spotify changing streaming rules, artists must get at least 1,000 streams before they can start earning.
This means some artists just won’t earn. Well, not for quite some time. It does, however, mean Spotify have freed up extra money to put to use elsewhere. They seem determined to make a difference to those who rely on of streaming revenue. However, they can’t do this without removing obstacles in their way.
As Spotify’s royalty pool continues to grow, so will the number of individuals trying to get their hands on some of it. This is where Spotify are cracking down. They’re working closely with artist distributors, labels both big and small, and also artists themselves. Spotify are introducing new policies to stamp out certain things.
They want to stop artificial streaming by making it less appealing to those currently guilty of it. Alongside this, they want to have a better system for smaller payments to ensure money is rightfully reaching artists when they need it most, and finally, they want to prevent those who game the system by simply adding noise.
These issues aren’t on a huge scale, as with each, Spotify have been vigilant for some time. But, by actively addressing them it will mean the $1 billion in revenue is rightly split between those who deserve it. Both emerging and professional artists over the next 5 years should see increases from Spotify.
