It’s clear that streaming has become the ideal platform for listening to music, and we can certainly thank Spotify for their impactful contributions to the industry.
As Spotify continues to make strides in the music industry, their organization continues to maintain their focus on the goals they have outlined in their business model: to eliminate piracy, and remain transparent while doing so.
As stated by the CEO and co-founder, Daniel Ek, “We will do anything we can to work with the industry to increase transparency, improve speed of payments, and give artists the opportunity to promote themselves and connect with fans – that’s our responsibility as a leader in this industry; and it’s the right thing to do.”
Not all music artists, however, believe that Spotify’s model is helping them or the industry. Taylor Swift pulled her music from Spotify just days after her 1989 album was released. Swift said, “…I’m not willing to contribute my life’s work to an experiment that I don’t feel fairly compensates the writers, producers, artists and creators of the music. And I just don’t agree with perpetuating the perception that music has no value and should be free.” She deems that artists are not paid enough for their music and does not want listeners who have free accounts on Spotify to be able to listen to her music. The only two current streaming services you can find her music on are Pandora and Apple Music.
Despite the controversy, Spotify as an organization is incredibly transparent about how they conduct their business. On their website, you can find details pertaining to how they make their money; how they pay royalties to the artists, their impact on music piracy, and other details that most organizations keep hidden from the public eye. The information is easy to find, and detailed to the point that any artist who may be considering adding their music to Spotify would be well informed as to how much money they would be making and why they’re making that amount.
Artists can have their opinions on streaming services, but it doesn’t look like that trend is going anywhere any time soon.