Daniel Ek, the CEO of Spotify, has waded into the debate about the financial status of the music industry amid major streaming platform dominance.
Artists have relentlessly spoken against the minimal financial gain from the creations, with a single stream typically earning a figure of $0,0032 per play which is then split between the record label, producers, artists, and songwriters.
Now, as part of new interview with Music Ally, Daniel Ek has voiced his opinion on the situation, urging artists to be more proactive in the continuous engagement with their fans.
“It’s quite interesting that while the overall pie is growing, and more and more people can partake in that pie, we tend to focus on a very limited set of artists,” Ek said in the interview before adding: “Even today on our marketplace, there’s literally millions and millions of artists. What tends to be reported are the people that are unhappy.”
His controversial comments continued: “In the entire existence [of Spotify] I don’t think I’ve ever seen a single artist [publicly say] ‘I’m happy with all the money I’m getting from streaming’,” he added. “In private, they have done that many times, but in public they have no incentive to do it. But unequivocally, from the data, there are more and more artists that are able to live off streaming income in itself.”
“You can’t record music once every three to four years and think that’s going to be enough. The artists today that are making it realise that it’s about creating a continuous engagement with their fans. It is about putting the work in, about the storytelling around the album, and about keeping a continuous dialogue with your fans.”