After selling stake in Spotify, Warner Music set to pay artists - 96.3 Easy Rock
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After selling stake in Spotify, Warner Music set to pay artists

Romar Fernando

August 10th, 2018

  • After selling stake in Spotify, Warner Music set to pay artists

    Logo Credit: Warner Music Group & Spotify

    $126 million is to be given back to artists after major music label Warner sold its stake in Spotify.

    Warner Music Group reveals that their share from Spotify earned $317 million this year. The company is successfully listed in the New Yorks Stock Exchange this early 2018.

    Having announced their latest earnings, Warner promised that they would share the spoils of Spotify to artists include Coldplay, Ed Sheeran and Neil Young whose names became famous with its labels.

    Online streaming has trembled the music industry because of the vast subscriptions to Spotify. This is considered as a solid growth in the industry after CD sales begin to progressively worse due to internet.

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