“And again, in specific, mostly to the U.S.-based price increases, it is one of the things that we would like to do, and this is a conversation we will have in light of these recent developments with our label partners,” Ek responded when asked about Apple Music’s aforesaid cost jump as well as that of YouTube Premium’s family plan. Bearing in mind the stock-price slip that arrived despite Spotify’s aforementioned Q3 gains, Daniel Ek made clear during his business’s corresponding earnings call that domestic price raises are “one of the things that we would like to do.” The value is almost 70 percent beneath SPOT’s worth in late October of 2021 and only four or so dollars above the stock’s all-time-low price of $78.50.
"I feel, really, that the ones that aren't doing well in streaming are predominantly people who want to release music the way it used to be released," Ek said.Nevertheless, Spotify stock (NYSE: SPOT) tumbled following the earnings report’s release, and at the time of this writing, shares were hovering around $82 apiece. It is about putting the work in, about the storytelling around the album, and about keeping a continuous dialogue with your fans."Įk alleged that artists have said "many times" in private that they are happy with their royalties from Spotify, and said that he believes that musicians who cannot make a living may not be in step with modern standards. "The artists today that are making it realize that it's about creating a continuous engagement with their fans. "Some artists that used to do well in the past may not do well in this future landscape," Ek said, "where you can't record music once every three to four years and think that's going to be enough." What is required from successful musicians, Ek insisted, is a deeper, more consistent, and prolonged commitment than in the past. In a recent interview with Music Ally, Spotify CEO Daniel Ek denied criticisms that Spotify pays insufficient royalties to artists, and insisted that the role of the musician had changed in today's "future landscape." The FADER reports: Ek claimed that a "narrative fallacy" had been created and caused music fans to believe that Spotify doesn't pay musicians enough for streams of their music.
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