What the major record companies really think about the economics of music streaming – Music Business Worldwide2 min read

https://www.musicbusinessworldwide.com/what-the-major-record-companies-really-think-about-the-economics-of-music-streaming/

” Remember: Warner Music Group offered all of its shares in Spotify for just over half a billion dollars back in 2018, while Sony sold 50% of its Spotify shares for $768m that very same year.Universal continues to own the entire stake it purchased in 2008, which is approximated to currently be valued at over $2 billion, and perhaps even over $3 billion.Universal Music UK” Like other music companies, we do hold some monetary equity in Spotify.” Sony Music UK” Our shareholding in Spotify is small (it is less than 3%) and we have definitely no control over the company organisation and/or running of Spotify and do not have a place on its Board.” Finally, it is worth noting that the financial investments we made in Spotify have likewise yielded considerable dividends for our artists and distributed independent labels– we have to date shared more than $250m from the proceeds of our sale of Spotify shares straight with artists and dispersed labels, neglecting whether their accounts may be recouped or unrecouped.” Warner Music UK” WMG does not presently have an equity stake in Spotify nor does Spotify have an equity stake in WMG.” WMG does not currently have an equity stake in Spotify nor does Spotify have an equity stake in WMG.

Senior executives from Spotify, Apple and Amazon were grilled live on electronic camera by British politicians today in the final session of a UK Parliamentary query into the economics of music streaming.
” Remember: Warner Music Group sold all of its shares in Spotify for just over half a billion dollars back in 2018, while Sony sold 50% of its Spotify shares for $768m that exact same year.Universal continues to own the entire stake it purchased in 2008, which is estimated to presently be valued at over $2 billion, and perhaps even over $3 billion.Universal Music UK” Like other music companies, we do hold some financial equity in Spotify.” Finally, it is worth noting that the investments we made in Spotify have also yielded significant dividends for our artists and distributed independent labels– we have to date shared more than $250m from the earnings of our sale of Spotify shares directly with artists and distributed labels, ignoring whether their accounts might be recovered or unrecouped.” Warner Music UK” WMG does not currently have an equity stake in Spotify nor does Spotify have an equity stake in WMG.

Leave a Reply

Your email address will not be published. Required fields are marked *