The $500 million the company expects to pay will go to artists, labels, publishers and other rights holders, and is roughly equal to the amount the company has paid since it was founded in 2008.Ĭritics have claimed that too much of royalties from streaming sites like Spotify go to major labels rather than artists, and Rob Wells, president of global digital business for Universal Music Group, was on hand at the same event and said that Spotify provides a “substantial” source of income for his company.īut it seems the best news here is for Spotify and other digital music startups. Spotify likely will pay out the same amount during 2013 that it has in its entire existence up to this point, said founder Daniel Ek at a Los Angeles event presented by Founders Forum.
With Spotify prepared to pay royalties of half a billion dollars and Apple selling more than 21 million songs every day, the future of the digital music industry looks bright for 2013 and beyond.
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