Starting January 2024, songs on Spotify will need to reach 1,000 streams to generate revenue, signaling a significant shift in Spotify's royalty model after 15 years.
This adjustment aims to tackle the problem of numerous tracks earning less than five cents monthly, potentially encompassing songs with approximately 200 plays. The new policy strives to ensure a more equitable distribution of income for professional artists and their creative output. By implementing this, Spotify anticipates reallocating around $40 million, previously earmarked for songs with fewer than 1000 streams, to those with a higher count. Reactions to this development have been mixed, and it's understandable. Altering the rules of a system in place for 15 years is likely to have its beneficiaries, casualties, or unforeseen repercussions. Nonetheless, from my current perspective, I don't perceive any issue with this. Google, via YouTube, has utilized a similar model for some time, and it has proven effective. Consequently, the objections to these changes may not be entirely warranted. Considering that achieving 1000 streams over a 12-month period averages to about 80+ streams per month, it's challenging to see how this threshold adversely impacts genuine career artists. Key Changes: 1. Commencement of Earnings at a Minimum Stream Benchmark. 2. Financial Penalties for Distributors and Labels Engaged in Streaming Fraud. 3. Minimum Length Rule for Non-Music or 'Noise' Tracks: This will increase the minimum duration required for each track of non-music audio content before triggering a payout. What are your views on these three changes? Fair play? Which change do you support the most?
Source: the Jollof Diary
Posted by Abdulazeez A Shomade | Published on 2023-11-10 15:35:35