Peter Csathy: Spotify and 1 Cent Per Stream Royalties: Tastes Great, But Is it Less Filling for Artists?

 Steve Jobs created the music industry’s long-standing basic economics. Now Congress’ new proposed bill may actually hurt, not help, artists [Spotify and music streams]( [Spotify and Penny Per Stream Royalties: Is the Cure Worse for Artists Than the Disease?]( By Peter Csathy Spotify just reported that it paid out $9 billion in artist royalties in 2023 — an impressive number to be sure, but one that still fails to satisfy artists frustrated by long-standing sub-$.01 per stream royalty rates that many in the music industry believe devalues music. It was Steve Jobs two decades ago who essentially framed music streaming’s fundamental economics when he set the price to download Apple’s songs at $.99 and albums at $9.99, a steep discount from the $13-$19 cost of physical CDs at the time. The price level was meant to give consumers a legitimate alternative to Napster’s outright peer-to-peer (P2P) theft. [Read More]( --------------------------------------------------------------- [Wrap Pro logo] Discover why entertainment executives and professionals rely on the WrapPRO platform daily for exclusive coverage, analysis, deeper reporting, and access to VIP events & screenings throughout the year. [Subscribe Today]( --------------------------------------------------------------- [Facebook]( [Twitter]( [Instagram]( [YouTube]( TheWrap | 2034 Armacost Ave Los Angeles, CA 90025 [Preferences]( | [Unsubscribe]( [LiveIntent Logo]( [AdChoices Logo](