AT THE TOP SPOT
In a perhaps unsurprising announcement, Apple was named in mid-February as the biggest contributor of music streaming royalties in the world, ahead of rivals Spotify, Amazon Music, and YouTube. According to the Mechanical Licensing Collective, streaming services have paid out more than $424,384,787 in revenue to musicians and labels to date, with Apple Music contributing the biggest share with $163,338,890 paid out. The figure represents “historical unmatched royalties from digital service providers,” and is made up of payments from 20 different providers. Whilst Apple Music remains smaller than Spotify globally, the company has paid out the most revenue since its inception, likely because Apple does not offer a free version of its music streaming platform outside of a free trial. Spotify comes in second place, paying out $152,226,039, whilst Amazon lags behind in third place with $42,741,507. The news comes two years after Apple Music overtook Spotify for paid subscribers in the USA, and proves that the company is continuing to add to its user base. What is important to note is that Apple does not disclose streaming service subscriber numbers, so analysts can do nothing other than speculate as to the size of the company’s music arm, but as the figures from the MLC suggest, Apple’s contribution reveals it’s performing well.
This story is from the 25, December 2021 edition of Techlife News.
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This story is from the 25, December 2021 edition of Techlife News.
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