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Spotify stock price yahoo
Spotify stock price yahoo










The company issued a statement not long after the protest touting its record payouts. It would also bring Spotify in line with competitors Apple, Amazon Music and Tidal. Holter said that Spotify increasing royalties to a penny per stream would send a clear, graspable message to its subscribers that it values the artists who serve as the foundation of the company. The announcement, coupled with the artists' protests, puts further pressure on Spotify to follow suit.

spotify stock price yahoo

On Friday, Apple Music, the world's second-largest streaming service, wrote in a letter obtained by the Wall Street Journal that it had increased its royalty payout to an average of a penny per stream. It’s such a small percentage,” Paul McCartney said during a recent episode of the BBC Radio 4 program "The Price of Song." “I think it’s harder for artists now, unfortunately. On a broader scale, the union aims "to tackle the inequality of corporate power in the streaming environment and seek to build solidarity with other workers engaged in this struggle."Īt least one billionaire singer and songwriter seems to agree with their mission. "At that point, everybody's being thrown out of work, essentially, and it didn't look like we would be included in any of the government relief plans."Īs the talk continued, an issue they could all relate to came up: what they considered paltry royalty checks received from Spotify, and the way in which the platform's algorithmic recommendation system seemed rigged against them and in favor of major-label affiliated artists. "We were just talking about what to do," Krukowski says. For others, it was a way to channel restless energy or educate themselves on the business. For some, the communal video get-togethers offered a chance for commiseration or support. Damon Krukowski, a writer, artist advocate and former drummer for Galaxie 500, said during a recent Zoom video call with Holter that the Union of Musicians and Allied Workers was born of necessity.












Spotify stock price yahoo