Mar 30 — Bloomberg’s Caroline Hyde reports on Spotify’s possible initial public offering on “Bloomberg West.” (Source: Bloomberg)
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Taylor Swift is the most recognizable artist to pull her music from Spotify. She is a Musician and Songwriter Advocate that has said in numerous interviews that she doesn’t think music streaming services appropriately value her art. Swift said in a Wall Street Journal article, ” Everybody’s complaining about how music sales are shrinking, but nobody’s changing the way they’re doing things. They keep running towards streaming, which is, for the most part, what has been shrinking the numbers of paid album sales.”
“I felt like I was saying to my fans, ‘If you create music someday, if you create a painting someday, someone can just walk into a museum, take it off the wall, rip off a corner off it and it’s theirs now and they don’t have to pay for it.”
“I didn’t like the perception that it was putting forth and so I decided to change the way I was doing things.”
Some say the streaming services are saving the music industry while others say they are killing it. We wanted to get to the bottom of this controversy. One of the leading online streaming experts is Sharkey Laguanza. He is the founder of Bandango and originator of the Streaming Subscriber Share Concept. Mr. Laguanza’s approaches this complicated subject with an easy to follow presentation with graphics. This video interview with Mr. Laguanza makes it very easy to understand how Spotify compensates artist and why the process is not sustainable long-term.
Laguanza also comments about the ownership structure of Spotify. The major record labels own 6% of Spotify, which many consider to be a conflict of interest. A public offering (IPO) of Spotify would potentially raise billions for the owners. The immediate cash infusion from a Spotify IPO would far exceed what they make from the music copyrights they hold.
This is a must see video for those that want to truly understand where the problems are in the streaming services and why so many artists like Taylor Swift are outraged by how they are being compensated and treated by Online Music Streaming Services.
About the Foundation for Musicians and Songwriters
FMS.LIFE is a 501c3 Not for Profit Foundation that promotes artist rights and helps emerging Musicians and Songwriters develop a career in the Modern Music Industry. We provide similar services as a Record Label without taking a penny from the artist we serve. They remain in charge of their lives and careers. They retain their copyrights, music recording masters and control over their career. FMS.LIFE helps the artist we work with get to a point of being able to negotiate fair contracts with the Record Industry or simply make a living as Independent artist.
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