We’ve had total control of them throughout the digital era (Sony Music’s license to them expired in 2003). The Presidents own the masters to our debut album. You keep nearly all the money if you’re your own label, but the new standard is closer to a fifty/fifty split of net if you’re signed to a label and if this is the case, this means that over 200 acts made in excess of $215,000 from streaming last year.”
“What we’re saying here is 200 artists made nearly half a million bucks from streaming last year. In it Dave Dederer from The Presidents Of The United States shares his story how they can still have a steady stream of income mainly based on two semi-hits from the mid-Nineties (that are still being streamed in sufficient numbers). The story below in the newsletter of Bob Lefsetz is quite exemplary. Because yes, if an artist has a bad contract with a label (or another middleman) then it can be that only a very small percentage ends up in the bank account of the artist. But if you make sure there aren't too many middlemen between Spotify and the artist then the payout is quite well, provided that people want to stream the songs of the artist. In earlier times there were plenty of (indie) artists as well who needed a second job to survive. Not every artist will be able to live from it, but that was never the situation anyway. Many artists can have a sufficient income by having their music available for streaming. Or rather, they see where Spotify needs to improve but they also see how they can adapt to the new situation. Many artists do not complain about Spotify.
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