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Can i pay for spotify with itunes8/24/2023 ![]() Pandora Listens Flat, but Internet Radio Expected to Grow And that large number doesn’t represent the revenues artists earned from the sales. In the final quarter of 2012, this represented a revenue of $3.7 billion for the company, up 22 percent from the same period a year earlier. That has all helped Apple to sell over 25 billion songs since it launched the iTunes store nearly a decade ago, and it continues to sell 21 million songs every day. The venue accounted for 29 percent of all music sales, beating out both Wal-Mart and Target. Last year, 69 percent of digital music sales were made in the iTunes Store. 25 Billion Songs Have Been Sold in iTunes Part of that starting over has to involve payment systems that are fair to both the digital music companies and the musicians, particularly including independent artists using the services. Major labels are still trying to determine how to traverse the new digital landscape with old methods, while new companies come into the industry with new and fresh ideas, particularly with the new focus on mobile, which Ek says is significantly cutting down on piracy and allowing the digital music industry to “start all over again.” The $500 million the company expects to pay will go to artists, labels, publishers and other rights holders, and is roughly equal to the amount the company has paid since it was founded in 2008.Ĭritics have claimed that too much of royalties from streaming sites like Spotify go to major labels rather than artists, and Rob Wells, president of global digital business for Universal Music Group, was on hand at the same event and said that Spotify provides a “substantial” source of income for his company.īut it seems the best news here is for Spotify and other digital music startups. Spotify likely will pay out the same amount during 2013 that it has in its entire existence up to this point, said founder Daniel Ek at a Los Angeles event presented by Founders Forum. With Spotify prepared to pay royalties of half a billion dollars and Apple selling more than 21 million songs every day, the future of the digital music industry looks bright for 2013 and beyond.
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