Spotify faces the music with billion-dollar payouts
Spotify paid out a total of $9 billion (€8.3 billion) in streaming royalties in 2023, making it the largest annual payment from any company to the music industry. The payout, which includes earnings distributed to artists and rights holders, was revealed in its recently published 'Loud and Clear' report. Previously, the giant Swedish digital music, podcast, and video service had been urged to "increase transparency" following criticism that it was failing to do so. "This is everything we know about how much is being paid out, how many artists are achieving different levels of success," said Ch...