Spotify CEO Daniel Ek Says it’s Not Enough to “Record Music Every Three to Four Years” | Under the Radar - Music Magazine
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Spotify CEO Daniel Ek Says it’s Not Enough to “Record Music Every Three to Four Years”

In a New Interview Ek Talks About Living Off Streaming

Jul 31, 2020
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Spotify has been notoriously criticized for its low payout, with smaller artists arguing that the most-streamed artists are awarded an unfair advantage. In a new interview with Music Ally, CEO Daniel Ek claims that’s not Spotify’s problem, basically implying that if musicians want to succeed they need to constantly churn out new music. 

It has become apparent in recent years that profit made off of an artist’s actual record only accounts for a small amount of their revenue, with most income coming through touring and live shows. With the rise of COVID-19, especially in the U.S., artists have been forced to cancel and postpone tours, meaning a large portion of their income as musicians has suddenly disappeared. 

Despite this, Ek doesn’t believe there’s an issue with the current system, but rather that this is the future model of income for musicians. Ek says that “some artists that used to do well in the past may not do well in this future landscape, where you can’t record music once every three to four years and think that’s going to be enough.” 

In order to stay relevant he says that “the artists today that are making it realize that it’s about creating a continuous engagement with their fans. It is about putting the work in, about the storytelling around the album, and about keeping a continuous dialogue with your fans.”

In a time where Spotify’s stock has increased 125% since the start of the pandemic in March and the company is now worth $50 billion, many musicians found it in poor taste to put the lack of streaming income on the artist. See some tweets below.

 

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