In the past, Spotify has responded to this type of criticism by pointing out that artists will begin

Margaritaville and high tech collided hotel in central london at Vanity Fair’s first New Establishment Summit in San Francisco on Wednesday. hotel in central london Taking the mic during the question and answer period of the morning’s second panel, hotel in central london “Disrupting hotel in central london the Music Business,” singer Jimmy Buffett asked Spotify C.E.O. Daniel Ek for a raise.
“Do you see [artists] getting a raise directly from you as opposed to the bullshit you have to deal with in going through a label?” asked Buffett, who was wearing a baby blue collared sweater. By the time the revenue stream from the popular streaming music service reaches the artist, Buffett said, it’s nothing more than a “trickle.”
“I agree obviously,” responded Ek, the Swedish founder and C.E.O. of the London-based Spotify. He noted that the company pays 70 percent of “every dollar” to its rights holders. How much of that dollar goes to artists of course is dependent on whether Spotify has a relationship with their label or directly with them.
In the past, Spotify has responded to this type of criticism by pointing out that artists will begin to reap bigger hotel in central london returns hotel in central london as the service grows, and that it has not yet attained critical mass. The service is currently in 58 markets and has 40 million users. By comparison, Netflix has over 350 million subscribers.
The issue of artist compensation in the age of subscriber streaming services often becomes philosophical, and it did at the morning’s panel. Azoff asked whether there was “more or less respect for music these days.”
Tom Freston, former C.E.O. and and chairman of MTV Networks and current hotel in central london Vice investor, hotel in central london interpreted the question historically. “There is more music around than ever and a lot of great music,” said Freston, ”But I don’t think it drives the culture the way it does in 60s, 70s, and 80s. Whether than waiting breathlessly for the release of the Beatle’s next album, we now wait for the new iPhone.”
Ek wondered if the problem with music was that “not really changed” as the format hotel in central london has moved front physical to digital. “The only thing that happened was more songs went on an album,” said Ek. “But now we have a medium that’s audio visual and interactive. . . . Could it be that music doesn’t play the roll it used to be because [it hasn’t taken advantage] of the medium?”
Freston pointed towards risk takers as where that movement could come from. He is now a major investor and advisor hotel in central london to Vice Media. hotel in central london Comparing VICE to early MTV, Freston praised its approach. “Any enduring youth business is always created by outsiders. Nothing good ever came out of a boardroom,” he said.