DJ with 15.5M streams made more $’s shorting Spotify stock for a month than he has in his”whole music career”
DJ and electronic music producer Party Thieves has found a way to earn a living from Spotify. But it has nothing to do with the 15.5 million streams that his top 10 tracks have accumulated on the platform.
Party Thieves, who has had tracks on Spotify since 2015 says that his score came thanks to shorting Spotify stock during the company’s recent 42% market slide.
“It’s no secret that artists get paid very little by streaming services. For the people who read this as a complaint, it’s not- maybe it’s solution,” Party Thieves told EDM.com. “I’m very grateful for any and all opportunities I’ve had over my music career and money isn’t a driving factor. But when you contextualize what’s happening, music artists aren’t being paid more to do anything besides create music. So my suggestion: invest.”
Bruce Houghton is Founder and Editor of Hypebot and MusicThinkTank and serves as a Senior Advisor to Bandsintown which acquired both publications in 2019. He is the Founder and President of the Skyline Artists Agency and a professor for the Berklee College Of Music.