Major music publisher Kobalt Music Publishing has reported that European royalties generated from Spotify have exceeded those from iTunes for its artists for the first time in history.
Kobalt, who represent 4000 artists including the likes of Tiësto, Toro Y Moi and LMFAO, say that revenues from Spotify streams in Q1 this year were 13% higher than those from iTunes.
In the corresponding quarter last year, iTunes revenues were 32% higher than those from Spotify in 2013. Although Kobalt is only one of many publishers, it’s a significant development – and similar announcements should be expected to follow from other major players in the near future.
Click here to read more at FACT.
Related articles
Spotify UK turns profit for first time10 Oct 2014
Spotify’s Daniel Ek speaks out12 Nov 2014
New ruling increases songwriter streaming royalties30 Jan 2018Spotify offering artists licensing agreements27 Jun 2018
SoundCloud sign subscription deal with Warner Music5 Nov 2014
Revenue from streaming reaches 80% of all US music sales2 Mar 2020