In a message to staff, the executive took aim at the royalty model that streaming giants use.
“There is a growing disconnect between, on the one hand, the devotion to those artists whom fans value and seek to support and, on the other, the way subscription fees are paid by the platforms. Under the current model, the critical contributions of too many artists, as well as the engagement of too many fans, are undervalued,” Grainge said.
Without sharing specifics, Grainge said the ideal updated model would not pit artists against one another but would instead support “DIY, indie and major” artists that would similarly reward subscribers and offer an enhanced “value proposition of the platforms themselves, accelerating subscriber growth, and better monetizing fandom.
Grainge’s comments come roughly four months after major streaming services and music publishers, including Universal, came to an
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