Spotify’s Payments to the Music Industry Nearing $40 Billion
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variety.comJem Aswad Senior Music Editor Spotify announced Wednesday that its all-time payouts to music-rights holders are approaching $40 billion.
The company said it pays out nearly 70% of every dollar it generates from music back to the industry, the announcement continues.
It generates its music revenue from two sources: subscription fees from its Premium platform paying subscribers, and fees from advertisings on music on its Free tier.
These rights holders include record labels, publishers, independent distributors, performance rights organizations and collecting societies, the announcement detailed.
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