Musicians paid more in the streaming deal with Universal as the industry clashed over streaming
Musicians paid more in the streaming deal with Universal as the industry clashed over streaming
Universal Music has signed a new deal that will channel more money to musicians amid an industry dispute over streaming.
The agreement between the world’s largest record label and French music streaming company Deezer could increase payouts to professional artists by 10 percent.
The background is concerns that musicians do not get a fair share when their songs are streamed on services like Spotify and Apple Music.
Deal: Deezer and Universal Music, which have popular artists like Ariana Grande (pictured) on their books, said this is the “first comprehensive, artist-centric streaming model.”
Deezer and Universal Music, which have popular artists like Ariana Grande, Taylor Swift and Sam Smith on their books, said this is the “first comprehensive, artist-centric streaming model.”
CEO Jeronimo Folgueira said: “This is a massive shift in the way the industry is going to work.” Founded in 2007, streaming site Deezer has 16 million monthly active users.
The new royalties model will be rolled out in France next month and is set to expand to other countries from 2024.
Universal is currently in talks with competing streaming platforms, including Spotify, about how they can adjust their royalties