Sony Music Shares $750 Million In "Spotify" Profits With Their Signed Artists

BYDevin Ch5.6K Views
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Rick James
Check your inbox (if you're signed to Sony).

Sony Music is in the process of "mailing" $750 million worth of royalties it intends to share with artists and distributed labels within their network. The $750 million total accounts for 50% of its Spotify shares. Sony Music owns 5.7% of Spotify's overall stock. The disbursal is reportedly being done free of expectations and won't count against unrecouped earnings.

The "Spotfiy Windfall" as they're calling it, will be delineated according to a 10-year mock-up, with the highest earnest receiving the greater portion of the disbursement, kind of like the mafia. The checks should arrive by the end of August, after Sony finishes their diagnostic. The number crunching involved in these calculations has led to many sleepless nights, according to a Sony insider.

Even artists signed to Sony Music's four major subsidiaries (not in a unrecouped position) will receive a check in the mail. Those labels are Columbia, RCA, Epic and Legacy. Slow but steady artists will be rewarded, but the artists set to receive the biggest payout are those who have posted individually-packaged exploits, like say Astroworld, or Ella Mai's "Boo'd Up." The final number is divided by a quotient, then a percentage comes into play, which is multiplied by a decimal point derived through an algorithm, and so on so forth. You catch my drift?


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