The Music Managers Forum (MMF) has called for all labels to offer an equal share of revenue from equity stakes in music streaming services with its artists.
According to the organisation, Warners stated that when the company does receive proceeds from the sale of its equity stakes in streaming services, it will share the revenue with its artists.
This will take place in the same way it shares revenue from actual usage and digital breakage. Warmer Music Group chief executive Stephen Cooper made the announcement during the company's quarterly investment call. Sony has also agreed to do the same and the MMF is now urging Universal to make the same promise to its artists.
Annabella Coldrick, MMF chief executive, said: ‘Record companies taking an equity stake in streaming services has become increasingly prevalent and it is essential artists see the value as well.
‘Warners are demonstrating industry leadership and aligning their interests with artists by committing to share proceeds from the sale of Spotify shares. This is a positive development for the long term health of the industry. We call upon other labels to follow suit. See our Dissecting The Digital Dollar report for a full exploration of the issues around streaming.’
Visit themmf.net for more information.
According to the organisation, Warners stated that when the company does receive proceeds from the sale of its equity stakes in streaming services, it will share the revenue with its artists.
This will take place in the same way it shares revenue from actual usage and digital breakage. Warmer Music Group chief executive Stephen Cooper made the announcement during the company's quarterly investment call. Sony has also agreed to do the same and the MMF is now urging Universal to make the same promise to its artists.
Annabella Coldrick, MMF chief executive, said: ‘Record companies taking an equity stake in streaming services has become increasingly prevalent and it is essential artists see the value as well.
‘Warners are demonstrating industry leadership and aligning their interests with artists by committing to share proceeds from the sale of Spotify shares. This is a positive development for the long term health of the industry. We call upon other labels to follow suit. See our Dissecting The Digital Dollar report for a full exploration of the issues around streaming.’
Visit themmf.net for more information.
