Spotify increased US premium subscription price by $1, added audiobooks, and reduced royalty payments to songwriters by $150m per year.
Spotify raised its premium monthly subscription price by $1 in the US, adding 15 hours of audiobook content, but did not increase royalty payments to songwriters. Instead, it claims lower "bundle" rates are possible due to the addition of audiobooks. This will result in songwriters and publishers earning $150m less per year from Spotify. The National Music Publishers' Association criticized the move, stating it perverts the settlement they agreed upon in 2022.
May 09, 2024
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