What you need to know
- The amount Apple pays music artists for streaming has been revealed.
- Apple has told its artists it pays them at the rate of "a penny per stream".
- That would be roughly double the amount of rival Spotify.
A new report says that a letter sent by Apple to Apple Music artists has revealed Apple pays for streams at the rate of a penny per stream.
From the Wall Street Journal:
As the report notes "a penny per stream" is roughly double what Spotify pays the rights holders for music streamed on its platform. But that doesn't necessarily mean artists are getting rich from streams either, as the report explains:
Apple says that 52% of Apple Music subscription revenue goes to record labels. Given the larger user base, Spotify still remains a much bigger source of revenue for most artists despite Apple's more favorable terms. You can read the full report here.
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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