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Spotify says it'll fix the royalty problems in the music industry

Spotify promises to fix the music industry's royalty issues

By Anthony Garreffa on Dec 26, 2015 06:09 am CST - 0 mins, 50 secs reading time

Out of the $3 billion that Spotify has paid out in the last six or so years, less than 1% has actually reached the hands of artists who have their tunes on the streaming giant's service.

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Well, Spotify is sick of this, and has said that it is going to get knee-deep into the music royalty business, noting that different publishers own the rights to the same tracks in different countries. Years ago when physical sales were dominating, this didn't used to be an issue. But with global streaming services, it takes time to find out who to pay, and some royalties end up just sitting there.

Spotify has said: "Today we are excited to announce that Spotify will invest in the resources and technical expertise to build a comprehensive publishing administration system to solve this problem". This is all Spotify is saying on the matter right now, so we can expect more to be said in the New Year.

Anthony Garreffa

ABOUT THE AUTHOR - Anthony Garreffa

Anthony is a long time PC enthusiast with a passion of hate for games to be built around consoles. With FPS gaming since the pre-Quake days, where you were insulted if you used a mouse to aim, he has been addicted to gaming and hardware ever since. Working in IT retail for 10 years gave him great experience with high-end, custom-built PCs. His addiction to GPU technology is unwavering, and with next-gen NVIDIA GPUs about to launch alongside 4K 144Hz HDR G-Sync gaming monitors and BFGDs (65-inch 4K 120Hz HDR G-Sync TVs) there has never been a time to be more excited about technology.

NEWS SOURCE:engadget.com

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