The UK Government has proposed a “complete reset” of the business model for streaming music. This will increase the rewards for artists and songwriters …
Apple cautioned against a proposal to increase the share of streaming music revenue paid to artists from the current typical 16% to a much higher 50%.
BBC news Report on the results of the survey 6 months inquiry According to Parliamentary Digital, Culture, Media and Sports (DCMS) Committee.
“Streaming has brought great benefits to the recorded music industry, but the talent behind it (performers, songwriters, composers) is being lost,” said Julian Knight MP, chairman. Committee. “Only a complete reset of streaming, which enshrines their right to a fair distribution of revenue, will be done.”
The report states that royalties should be split into 50/50 instead of the current rate at which artists receive about 16%.
Songwriters receive even less rewards than performers.
Pop songwriter Fiona Bevan revealed that he earned only £ 100 on Kylie Minogue’s number one album, the disco track. “Currently, a hit songwriter is driving Uber,” she told MP. “That’s pretty shameful.”
According to the report Apple Music And Spotify It should be treated like a radio broadcast where the artist is paid 50% of the fee.
As expected, music labels, which currently make up the majority of streaming revenue, objected, claiming that the money they earned would be reinvested in new artists. Even more surprising, Apple gave a cautious note. A representative of the streaming company suggested that the change in the loyalty system was “open-minded”, but said that 70% of the revenue was already paid to labels, publishers and artists.
“It’s a narrow-margin business, so it doesn’t really take much to confuse the so-called Apple Cart,” said Elena Segal of Apple Music. Certainly the streaming service Struggling at break-even pointLet alone Make a profitThe recommendation here is that music labels take a much smaller share. To be sure, the only streaming service that was attacked was YouTube. It pays less than a quarter of what Apple Music paid.
Apple is the second most generous music streaming service after Tidal. A Tweet This week we’ve suggested that Peloton pays a lot more than all streaming services, probably because you have to buy a much more expensive sync right than just streaming music alone. .. What’s unclear is how YouTube could negotiate such a low price if many of YouTube’s uses were sync, or music used as a video soundtrack.
According to last year’s survey, almost two-thirds of streaming music subscribers Willing to pay more If additional income is paid to the artist. Photo: Omid Armin/Release the splash
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