Spotify wants labels to pay less

Spotify wants labels to pay less

Tech August 24, 2016 07:54

stockholm - Spotify wants the three major record labels to pay less. Writing Music Business Worldwide. Spotify would pay about 55 percent of the proceeds to the labels, but now aiming for an even lower rate.

The contracts of the major labels in Spotify have now expired. It should be renegotiated. The music also remains just hear the ongoing negotiations.

Until now, Spotify was far compared to competitors 'cheap' deal to increase market share. Competitor Apple Music pays 58 percent of the revenue to the labels. The defunct Rdio would have paid even 60 percent.
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Spotify would have asked to pay less than 50 percent of their income, a source told Music Business Worldwide. A spokesman for Spotify denies however.

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