Spotify Offers Additional Response To Independent Label Defections
After receiving so many strongly negative comments to yesterday's response from Spotify regarding several indie labels leaving the streaming music service, and today's news that a third had exited, I asked the company for further comment on the criticisms particularly those coming from the independent music community. Spotify's reply:
"As the statement that you've printed says, Spotify is generating serious revenues for rights holders, labels, publishers and the artists that they represent. We have paid over $100m to rights holders since our launch, and the overwhelming majority of our label partners are thrilled with the revenues we're returning to them. Spotify is now the second single largest source of digital music revenue for labels in Europe, according to IFPI.
I can also add (that) Spotify has paid many millions of dollars to the indie music community since our launch and the overwhelming majority of our indie label partners are thrilled with the revenues we're returning to them.
Our indie label content is a crucial part of Spotify and offering their music on the service allows our users to experience a hugely diverse catalogue spanning every musical genre. In return, we give indie labels a powerful monetisation and promotional platform as well as exposure to an eclectic and passionate audience of music lovers."