MMF on Spotify equity
OFFICIAL PRESS RELEASE
NEWS PROVIDED BY
Annabella Coldrick, CEO, Music Managers Forum:
The Music Managers Forum has long campaigned for the income from Spotify equity to be shared with artists whose music the labels traded. We're very pleased to hear from Sony that they will be doing this both directly and with artists signed to distributed labels, and not off-setting it against recoupment. This is a progressive move which we hope to see reflected more widely in the industry and across other non-attributed income such as Facebook.
The music industry is changing and the future will be different from the past. Labels will work increasingly in partnership with artists and not be "owners" of their rights. This shift should see more equitable shares of all revenue going to the artists and songwriters, not just on a royalty basis.
June 19, 2018 6:23am ET by MMF