Nearly half of the more than $9b Spotify paid to labels and publishers in 2023 went to independent rightsholders, the streaming service has reported.
The indie sector received a record $4.5b last year, a fourfold increase from 2017. Indies made up more than 35% of the overall music business in 2023.
Spotify has a 32% share of the global streaming market, with 236m paying subscribers worldwide. The platform accounts for more than 20% of global recorded-music revenue, up from less than 15% in 2017.
Spotify reports that it has paid the music industry more than $48b since its founding.
OH, TANNENBAUM! ANOTHER GREAT CAREER HITS THE SKIDS
Another talented journalist trapped in the career cul de sac (5/20a)
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THE NEW UMG
Gosh, we hope there are more press releases.
TIKTOK BANNED!
Unless the Senate manages to make this whole thing go away, that is.
THE NEW HUGE COUNTRY ACT
No, not that one.
TRUMP'S CAMPAIGN PLAYLIST
Now 100% unlicensed!
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