Jimmy Buffett asks Spotify for a raise

SAN FRANCISCO — Spotify is too cheap when it comes to paying artist royalties, according to Jimmy Buffett.

The singer and impetus behind the humanitarian group Parrot Head Nation, told Daniel Ek, chief executive of the music-streaming company, that artists deserve a bigger cut of the company's revenues.

"Do you see anything in your future where we might get a raise directly from you as opposed to going through the bulls–t you have to go through to deal with a label these days?" Buffett asked Ek during the question and answer segment of a media panel here.

Spotify, with 10 million subscribers in more than 50 countries streaming music through 1.5 billion play lists, said it has paid out more than $1 billion in royalties since 2008.

On its Web site, Spotify said it pays out 70 percent of revenue as royalties, which are split between record companies and artists.

"How the stream of revenue gets to the artists, particularly young and struggling artists, is hard to understand now," Buffett said.
He took the mic during the Q&A session of the second panel of the morning, "Disrupting the Music Business," at the Vanity Fair New Establishment Summit.

"Most of it doesn't get to the artist," Buffett said.

Ek said Spotify is committed to transparency and is working to better show how streaming is financially benefiting each artist. One benefit of the new tracking system is that payouts will be done more frequently, rather than just on an annual basis, he said.

MTV founder Tom Freston said the rise of the CD format ultimately helped set the industry up for failure in the digital age because it was easy to convert that format into streaming music.

The labels also blundered when they stopped selling singles, Freston added. "They tried to force consumers to buy albums with 10 tracks on them.
"
And while there is more music available than ever before, Freston said the industry's impact on the culture has dwindled since music's heyday in the '60s, '70s or '80s.

But Spotify's Ek just doesn't buy that doom-and-gloom argument. He said that subscriptions for streaming music may ultimately lead to a music-industry revival.

"We're just in the beginning of the subscription music business. In a few years recorded music will be bigger than it has ever been," Ek said.

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