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Spotify has forked out billions to pay back artists

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The streaming giant has paid $7 billion to music industry rights holders last year

This money makes up almost 25 percent of the industry’s total revenues.

As part of that sum, Spotify has paid its top artists millions of dollars each.

The news was announced on the company’s Loud And Clear website, which aims to increase transparency around its payments.

Spotify says over 52,000 artists earned more than $10,000 from Spotify last year.

A hundred and thirty of those artists were paid more than $5 million over the last 12 months.

Spotify didn’t name any of the artists involved, but its most-streamed acts last year were Bad Bunny, Taylor Swift, BTS, Drake and Justin Bieber.

How does Spotify measure payouts on its site? 

Spotify says they do not have insight into each artist and songwriter’s agreements with their chosen rights holders, therefore they can’t report on how much artists profit from their Spotify performance.

“We can only report the data that’s available to us, which is the amount of money that has left Spotify,” they say.

The streaming platform adds that they don’t pay artists directly, instead they pay rights holders selected by the artist.

Popstar Olivia Rodrigo had the most-streamed song on Spotify last year with her song Drivers License.

Spotify is the highest paid-subscription music service globally with over 180 million paying subscribers.

Savannah Pocock contributed to this report.

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The integral step to entering the property market

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In the debate surrounding housing affordability, a divergence emerges between media portrayals and stark realities. While the crisis is often depicted as insurmountable, critics argue that individuals tend to blame external factors rather than taking personal responsibility.

Despite challenges, advocates urge a shift from despair to possibility, emphasizing personal agency and proactive pursuit of homeownership goals. Thus, while acknowledging the hurdles, reframing the discourse empowers individuals to navigate the housing market with resilience and determination, making the dream of owning a home a tangible reality for those willing to seize it. #Trending #Featured

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LA real estate agent reveals the secret to success

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What does it take to be a top performing real estate agent?

Wyld Money dives into the world of financial freedom. Whether you’re a seasoned investor or just getting started, join us for actionable tips and tricks to unlock your earning potential, and retire on your own terms.

In this episode, Mark delves into the fast paced world of LA luxury real estate with renowned agent, Glen Coutinho from Rodeo Realty Beverly Hills. #wyld money #trending

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Why the meme-stock frenzy is unlikely to repeat

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GME shares surge 74%, but experts stress a meme-stock frenzy resurgence is unlikely due to fundamental differences in the company’s financial situation.

Australia’s budget unveils a second consecutive surplus of A$9.3 billion, prioritising the critical minerals industry and green energy initiatives to reduce reliance on Chinese supply.

Also, GameStop shares have surged 74%, but experts caution against expecting a repeat of the 2021 meme-stock frenzy. #featured #trending

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