Spotify Expects To Pay Out $500 Million In 2013
February 6, 2013

Spotify CEO Daniel Ek said on Tuesday that his company expects to pay out $500 million in royalties to rights holders this year. Speaking at a technology and media event in Los Angeles, Ek said this amount is essentially equal to what Spotify has paid out in total since 2008, according to Billboard.biz.

Billboard notes that by comparison, Pandora paid out $230.2 million in its last four reporting fiscal quarters, while VEVO has paid out $200 million since its 2009 debut.

Universal Music Group President of Global Digital Business Rob Wells also spoke at the event, held by the Founders Forum, and said Spotify has become a "substantial" source of revenue for UMG. For this reason, the label is not likely to end its relationship with Spotify when their contract is up for renewal.

Ek also spoke of the power of mobile devices, saying, "We’re going through a tectonic shift to mobile now." He added that since piracy is not the major issue on mobile devices as it is on desktop computers, for content providers "it’s kind of like we get to start all over again," on digital distribution.




 
Breaking News
Stu Bergen Named CEO, International & Global Commercial Services For Warner Music Group
JoJo Turnbeaugh Named SVP of Programming for iHeartMedia Las Vegas
In Brief - February 5, 2016
February 4, 2016
John Strazza Joins RECORDS
Greater Media Promotes Buzz Knight to SVP of Program Development
MIWs Announce Results from 2015 Gender Analysis
February 3, 2016
Leslie Moonves Named Chairman Of CBS Corporation
FADER Label Annouces New Distribution Deal With Caroline
Jeff Hickcox Returns To Beasley SWFL As Promotions & Events Director
February 2, 2016
SiriusXM Reports Major Subscriber Growth, Record Revenue in 2015
BMG US Promotes Zach Katz To President Of Music Publishing
Bentley Named MD/Afternoon Drive Host at WEDG/Buffalo
SoundExchange Ends Record-Setting Year, $800 Million to Recording Artists and Record Labels
February 1, 2016
Alissa Pollack Named iHeartMedia EVP of Global Music Marketing
Entercom Atlanta Announces Jeff Dauler to Lead Mornings On STAR 94
John Shomby Named Director Of Programming for NASH Network
In Brief - February 1, 2016
January 29, 2016
eQB NOW
Alpha Media Promotes Two Portland Stars to Music Director
Justin Ragland To Head SummitMedia Birmingham Marketing & Promotions
January 28, 2016
WDRV/Chicago Names Rob Cressman Program Director
Matt O'Grady Named Chief Executive Officer Of Nielsen Catalina Solutions
Frank Arigo Named Senior Vice President Of Marketing For Columbia Records
January 27, 2016
Music News
Earth, Wind & Fire's Maurice White Dead At 74
The Entertainment World Remember Maurice White
Quick Hits: Rihanna, Lady Gaga, Future, The Lumineers, Stone Temple Pilots
Justin Bieber, Pitbull and More Added to Grammy Lineup
Quick Hits: Miley Cyrus, Iggy Azalea, Taylor Swift, Future
Lady Gaga to Honor Bowie at Grammys, Sing National Anthem at Super Bowl
Quick Hits: Juno Awards, Metallica, Guns N' Roses, Grammys, Joe Bunch
Quick Hits: Kanye West, Five Finger Death Punch & Shinedown, Big Boi, Disclosure, The Roots Picnic, Moonstone Festival
RIAA Announces New Certification Methods
Quick Hits: Adele, Rihanna, Red Hot Chili Peppers, Fleetwood Mac Fest, Jefferson Airplane, Smashing Pumpkins, Halestorm, Santigold
Jefferson Airplane Co-Founder Paul Kantner Passes Away
Quick Hits: Rihanna, Zayn, Kanye West, Coldplay, Shawn Mendes
TIDAL Surprises Fans with New Rihanna Album
Coldplay To Tour U.S. Stadiums
Quick Hits: Rick Ross, J. Cole, Rock & Roll Hall of Fame, Halsey, Deftones, Sting, Lionel Richie Tribute Concert
FMQB NOW

Mike “OD” O’Donnell, OM
Entercom
Scranton Wilkes-Barre, PA

Advertisement:
Search FMQB.com
Advertisements:
FMQB Member Login
Email:
Pass:

Save
Not a member yet?
Sign up Now!
Sign Up for Breaking News!
Enter FMQB E-Tracking!