Spotify Payments To Artists Grow 8X
Reports coming from Swedish performing rights groups show that Spotify's payments to artists appear to be growing exponentially. Swedish songwriters association STIM spokesperson Susanne Bodin confirmed an "eightfold increase" in payments to its members over last year. STIM had reported that last June's payments were 500,000 kroner with the latest payment rising to 4 million kroner ($512,280) according the TheLocal.se.
Just how much revenue Spotify can generate has been among the major concerns preventing the major labels from allowing the service to launch in the U.S.