Producer and artist Swizz Beatz has called for artists to get a bigger share of streaming royalties.
“I’m friends with all the streaming companies, but what I will say on record to them is we’re not getting enough money for those services and those companies to be trading for billions of dollars,” he told MarketWatch. “I feel that the creatives should be 50/50 because without music, what are you going to stream? Without content, what are you going to stream?”
We can’t help wondering what he means: while Spotify’s revenue-share for rightsholders may have crept down from its traditional 70%, it’s still well above 50%. Is he talking about artists’ share of those payouts, in terms of how they’re split with their labels? That might make more sense as a gripe, but he does position the complaint as one aimed at the streaming services.
“Streaming became very important as a database, but is that database translating into real currency like what we were doing in the late 90’s, selling 10 million records?”