Major music corporations' non disclosure agreements are to blame for low artist revenues from streaming, says the Music Managers Forum (MMF).
The organisation made the comments as part of a statement following the current debate surrounding Spotify.
Discussion has been sparked by Taylor Swift’s decision to remove her music from the service after she claimed streaming fails to ‘fairly compensates the writers, producers, artists, and creators’.
In a statement the organisation said that music streaming is a great opportunity for artists, giving ‘a voice to those that want to be heard and a platform from which to build multi revenue businesses that cross borders’.
The MMF said: ‘Non-disclosure agreements hide how the major music corporations license streaming services and we have grave concerns that the deals contain stipulations that both significantly reduce the amount artists ultimately get attributed and damage the growth of the streaming economy.’
The organisation urged all ‘major music corporations to take note and react in the best interest of their artists and shareholders’.
As part of his statement, Spotify chief executive officer Daniel Ek revealed that the music streaming and subscription service had paid out a total of $2bn in royalties.
Click here for the full story.
The organisation made the comments as part of a statement following the current debate surrounding Spotify.
Discussion has been sparked by Taylor Swift’s decision to remove her music from the service after she claimed streaming fails to ‘fairly compensates the writers, producers, artists, and creators’.
In a statement the organisation said that music streaming is a great opportunity for artists, giving ‘a voice to those that want to be heard and a platform from which to build multi revenue businesses that cross borders’.
The MMF said: ‘Non-disclosure agreements hide how the major music corporations license streaming services and we have grave concerns that the deals contain stipulations that both significantly reduce the amount artists ultimately get attributed and damage the growth of the streaming economy.’
The organisation urged all ‘major music corporations to take note and react in the best interest of their artists and shareholders’.
As part of his statement, Spotify chief executive officer Daniel Ek revealed that the music streaming and subscription service had paid out a total of $2bn in royalties.
Click here for the full story.
