We’ve heard the latest salvo from the NMPA and NSAI over CRB filings, but one former Spotify executive has suggested that the streaming service’s value is under-appreciated in publishing circles.
“The CRB rears its head again, and the same confrontational language is grabbing headlines. What’s missing is a chance to take stock of just how much value streaming services are now paying over,” said former Spotify chief economist Will Page in an appearance at the Music Tectonics conference yesterday. “Take Spotify, as one example, I reckon it’s now a billion-euro-a-year business for songwriters, publishers and their collective management organisations.”
Page put that into context by noting that the most recent report from global collecting societies body CISAC had noted that its members’ entire global digital collections had grown by more than €1bn over the five years to 2019, to €1.64bn.
Page also offered his views on wider industry trends. “The Post Spotify Economy is Tarzan Economics in action – the old vine is £9.99 a month – soon to be twenty years old,” he said. “The new vine is about ‘taking water to the horse’ and putting music into games, into TikTok and even into podcasts.”