According to a Billboard report, Spotify’s CEO has just announced that the company plans on paying out rights holders over $500 million this year. This is around the same amount that Spotify has paid out in total since their launch in 2008. With all the commotion and controversy surrounding the music streaming platform, this might be the answer many artists have been asking for. With that said, we don’t really know where this new revenue will come from. Whether that just be from more users or a new advertising and subscription model.
The article does mention mobile use, though, which is a platform that makes it much more difficult for users to pirate music and other content on. With that said, let us know what you think about this news, and if you think it means we are moving towards a more lucrative streaming revenue model for the music industry.