Spotify: Last News

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All news where Spotify is mentioned

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Spotify to allow users to change speed of and remix songs “while generating new revenue for artists”
Spotify is reportedly planning on introducing a feature to allow users to slow down, speed up and remix songs on the platform.The developments have been detailed in a new report by the Wall Street Journal, who say that the streaming service is looking to experiment with tools that will allow users to manipulate existing songs on the platform.The report suggests that users will be able to edit and mash together tracks to create modified versions of songs that can them be added to “virtual collections” on Spotify, but which will then not be available to share on external platforms.The Wall Street Journal suggests that “discussions about the tools are early and licensing agreements have yet to be worked out,” but that they hope the additions will “appeal to young users, while generating new revenue for artists.”At the start of this month, the streaming platform officially demonetised all songs with less than 1000 streams, having first announced the policy last year in the ‘Modernising Our Royalty System’ report.According to Spotify data, there are around 100 million songs on the service, yet only around 37.5 million meet the new requirements to generate revenue.Spotify said that 99.5 per cent of all streams on the platform “are of tracks that have above 1,000 streams.” They went on to claim that demonetising the tracks won’t result in a “change to the size of the music royalty pool being paid out to rights holders”.It argued that instead it will “use the tens of millions of dollars annually to increase the payments to all eligible tracks, rather than spreading it out into $0.03 payments.”Spotify also went on to say it requires a minimum number of unique listeners now if royalties are to apply – a measure brought in to
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Spotify has now officially demonetised all songs with less than 1,000 streams
Spotify have now officially demonetised all songs on the platform with less than 1000 streams.The policy was launched on April 1 and came after the streaming giant released a report last year, Modernising our royalty system, in which news of the decision first appeared. The move has been planned by the platform for some time.The new regulations come following months of speculation about new policies the streaming service would be introducing, including rumours that the company would be making it harder for artists to generate royalties from their music.According to Spotify data, there are around 100million songs on the service, yet only around 37.5million meet the new requirements to generate revenue.This means that around 60 per cent of tracks will not qualify for the new threshold, although Spotify did recall that these songs make up less than one per cent of the total number of streams on the service.Spotify said that 99.5 per cent of all streams on the platform “are of tracks that have above 1,000 streams.” They went on to claim that demonetising the tracks won’t result in a “change to the size of the music royalty pool being paid out to rights holders”.It argued that instead it will “use the tens of millions of dollars annually to increase the payments to all eligible tracks, rather than spreading it out into $0.03 payments.”Spotify also went on to say it requires a minimum number of unique listeners now if royalties are to apply – a measure brought in to attempt to stop the rise in fake streams after a rise in fraudulent activity was detected.Late last year, Spotify announced that it was cutting down 17 per cent of its workforce in order to save costs.
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UK music revenues rise to highest level in two decades through streaming
ERA, the digital entertainment and retail association, the value of UK music rose seven per cent to an all-time new record of £11.9billion.The ERA say the “main driver of growth” in 2023 came via streaming and digital services, which increased their revenue by more than £800million in one year. Streaming now accounts for 91.7 per cent of the total revenue for UK music nationally.As well as streaming, sales of vinyl increased by 18 per cent, and CD sales also saw a two per cent increase in sales – the first value increase in the medium in almost twenty years.It means music revenues were at their highest since 2002 and are now just 0.8 per cent below the music industry’s greatest revenue year of 2001.ERA Chairman Ben Drury said of the statistics: “The entertainment business is defying gravity, delivering eleven straight years of growth regardless of wider economic conditions.“Due credit should go to the amazing creative talent behind the movies, music and games we all love, but we should also recognise the huge contribution of the digital services and retailers who have reinvented the entertainment experience for consumers over the past 15 years,” he continued.“The overwhelming majority of the money raised by digital services and retailers goes direct to the content owners, and their success is directly benefitting creators.”ERA CEO Kim Bayley added: “With revenues just a fraction away from music’s all-time-high, this is a red letter day for the music industry and is a testament not just to the creativity of artists, but to the entrepreneurial drive of digital services and retailers.“A world without streaming now seems unthinkable.

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