What you need to know
- Apple has paid out nearly $164 million in historic unmatched royalties on Apple Music.
- Spotify, Amazon, and Google also coughed up for a settlement worth a total of $424 million.
Apple has paid out $163.3 million in 'historical unmatched royalties' to The Mechanical Licensing Collective as part of a larger payout from streaming platforms.
Speaking to Variety, the CEO of the National Music Publishers Association David Israelite said the payout was "a massive win for music creators and the streaming services themselves." Israelite said that songwriters and publishers had fought "for years" to be paid accurately and fully by streaming services, and that 'unmatched money' was a plague on the industry.
Last year Apple announced a $50 million Royalty Advance Fund for indie music labels affected by the pandemic. Figures from 2020 suggest Apple Music pays out a good deal more money than other major services to artists when it comes to streaming. From that report:
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Stephen Warwick has written about Apple for five years at iMore and previously elsewhere. He covers all of iMore's latest breaking news regarding all of Apple's products and services, both hardware and software. Stephen has interviewed industry experts in a range of fields including finance, litigation, security, and more. He also specializes in curating and reviewing audio hardware and has experience beyond journalism in sound engineering, production, and design.
Before becoming a writer Stephen studied Ancient History at University and also worked at Apple for more than two years. Stephen is also a host on the iMore show, a weekly podcast recorded live that discusses the latest in breaking Apple news, as well as featuring fun trivia about all things Apple. Follow him on Twitter @stephenwarwick9