So time for some news that no one talks about. Spotify currently owes $80 billion. A few days ago, the high court told Spotify this outright. No one mentioned this news of course, because everyone is pushing it aside until the time comes around for it to actually shut. No one believes it, but it is true. Unless Spotify miraculously becomes huge, they will completely cease to exist come next August.
Here at the facts. At the current rate Spotify pays every artist $0.007 for every song that is played. It is supposed to be a lot more, but because of the low amount of money Spotify are making, that is all that is getting paid. So imagine if you are an upcoming American artist and you get 100 plays on one of your songs. You get 7 dollars out of that. 1000 plays? 70 dollars. 10,000 plays? 7 dollars. It only starts becoming decent money if 100,000 people play a song. How much do you make? Still only 70 dollars. A million plays? Wow that is only 700 dollars. So a million people all across the world play your song and you only make 700 dollars. See the problem with Spotify? No one makes any decent money.
Unfortunately, because of this problem, Spotify, unless a miracle happens, will be shut down as of August 2015. It doesn’t help there case though when artists are pulling there music from the site already. Radiohead lead singer Thom Yorke took down all of his songs a long time ago because they weren’t paying upcoming artists much. This has since got worse. Also in the last couple of days Taylor Swift has done the same (fair play to her).
So if the hugely successful artists Thom Yorke and Taylor Swift both are doing this, surely this means Spotify should increase the money they are giving artists? Well they can’t because Spotify don’t have enough money! Technically then, these big artists who are pulling there music from Spotify, are actually not helping this get any better. They take music off, then Spotify loses money. Spotify loses money then artists get less money. Actually if they wanted to help the artists they should stay on it, then more money will be paid to the smaller bands.
Basically, Spotify is going down, and in about 9 months the company will cease to exist. I hope you are all ready to go back to pirating music.
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The Life Poster