Apple pays one penny for music streams, twice the rate of Spotify

A letter addressed to the artists revealed that it pays one per cent for each song stream. While it doesn’t seem like much, it almost doubles Rates for Payments Apple’s rates can sometimes sink below one penny per stream, according to The Wall Street Journal. However, it is still much more than Spotify Average pay per stream Between one-third and one-and-a-half percent.

But in the latest count, Spotify had far more paid members than Apple Music. There was spotty In the fourth quarter of 2020 and a total of 345 million users. The last time Apple released its music subscriber numbers was in June 2019, when it had more than 600 million members.

Spotify users stream more music than any other platform. As such, the company earns more in the music industry than its competitors. It paid অধিকার 5 billion (about billion 1 billion) to the rights holders last year.

Artists usually do not accept those payments directly. Apple, Spotify and other services pay royalty fees to rights holders such as Writers, record labels and distributors. Artists and songwriters then receive a cut in royalties, depending on their agreement with those entitled.

Apple wrote in its letter that it pays 52 percent of music subscription revenue to record labels. About two-thirds of every dollar of revenue that goes to Spotify pulls (including free, ad-supported users) is given to labels, about 5-60 percent. Overall, streaming According to the American Recording Industry Association report, record industry revenue last year.

Artists, art personalities and many fans have been demanding higher pay from streaming services, especially the COVID-19 epidemic, which has put a temporary end to travel, which is one of the main sources of income for actors. At the very least, more transparency from music streaming platforms is a welcome step.

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