News - 06/03/2018

Universal to share with artists the money generated from the sale of its Spotify stock

Universal to share with artists the money generated from the sale of its Spotify stock

According to a report by "Music Business Worldwide", Universal officially confirmed its will to share with its artists the money it generates from the sale of its Spotify stock.

Indeed, two years ago, Warner Music Group and Sony Music Entertainment already announced their commitment to hand a chunk of their respective Spotify equity proceeds to artists. But there has been no word from Universal on the matter – until now.

Now a Universal spokesperson confirmed the news to "MBW" saying:

Consistent with UMG’s approach to artist compensation, artists would share in the proceeds of a [Spotify] equity sale.

 

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