Warner on August 7 confirmed it's no longer a stakeholder in Spotify. Indeed, Warner Music Group just sold all its shares in Spotify for more than $500,000.
The major is allocating 25% of this money to its artists - but, unlike Sony, it will take account of unrecouped balances (meaning that a significant proportion of this cash will actually remain at WMG).
WMG CEO Steve Cooper told investors that Warner realized $504m in proceeds from selling 100% of its Spotify stock in the quarter ending June 2018:
I’m pleased to say that, in connection with the sale of our Spotify equity, an estimated $126 million will be credited to artist accounts on their June 30 royalty statements which are issued around the world in August and September.
That $126m equates to exactly a quarter of the $504m.
According to "Music Business Worldwide", $126m includes payments to Warner/ADA-distributed labels - but Warner is only sharing Spotify proceeds with its partner labels when obligated to do so by individual contracts.
I like a good boy, but sometimes you get boredWho said it? >
Please immediately report the presence on Rockol of any images not belonging to the above categories: we shall rapidly verify and proceed to immediately removing them in case of any unproper use.