This is appalling.
Spotify is loading up playlists with generic, cheaply made music to boost their profits. They're making BILLIONS while artists make a tiny fraction of a penny.
* On February 7, Spotify’s CEO sold 250K shares for $57.5 million.* On April 24, Spotify’s CEO sold 400K shares for $118.8 million.* On November 15, Spotify’s CEO sold 75K shares for $35.8 million.* On November 20, Spotify’s CEO sold 75K shares for $34.8 million.* On November 26, Spotify’s CEO sold 75K shares for $36.1 million.* On December 4, Spotify’s CEO sold 75K shares for $37 million.* On December 11, Spotify’s CEO sold 60K shares for $28.3 million.Deejay Alan Freed couldn’t dream of such riches. In fact, nobody in the history of music has made more money than the CEO of Spotify.
Taylor Swift doesn’t earn that much. Even after fifty years of concertizing, Paul McCartney and Mick Jagger can’t match this kind of wealth
The press didn’t discover this. Music media didn’t discover this. But a blogger noticed it, and and independent journalist followed up on it. Now it’s a book, coming out in January. “Mood Machine: The Rise of Spotify and the Costs of the Perfect Playlist. “
Thievery, plain and simple.