Apple Music Reveals It Pays Only A Penny Per Stream
Apple Music just revealed that it pays artists a penny per stream, which is roughly twice what Spotify pays, according to estimates.
The Wall Street Journal reports that Apple is set to release an open letter to artists later today.
Spotify’s argument is that it pays lower variable rates on far more streams, while Apple’s happy to say that it pays a higher, simpler rate on fewer streams.
If this is a way for streaming services to show that they are somewhat friendly to artists, then they are very far from it.
Sure, some artists might welcome the transparency from Apple but that doesn’t change the fact that the rates should be higher.
The two platforms work in a different way, for example it is important to note that Spotify it’s bigger (345 million total users), and it runs a massive ad-supported music service while Apple Music only offers one paid service.
The bottom line is, all these platforms don’t really seem to care about paying artists a fair share, especially at a time like this, where streamings may be the only source of income for many.
But artists can’t make a living on streaming royalties alone, which is why everyone is been selling their NFTs.
Big companies thrive making billions of dollars every year, and the small people always stay poor. Maybe it’s time for a new platform?