Rich on Spotify? Company denies trick to earn R$6,000 with 30-second song

Rich on Spotify?  Company denies trick to earn R,000 with 30-second song

Spotify chief denied that users can earn royalties if they repeatedly listen to their own songs Spotify denies trick to earn R$6,000 with 30-second song they add to the platform themselves. Financial analysts at JP Morgan said Spotify subscribers could earn $1,200 a month by listening to their own 30-second song on repeat, 24 hours a day. The assessment suggested that Spotify’s royalty payment structure could be manipulated. But Daniel Ek, CEO of the streaming giant, says that this is not how the platform’s royalties work. The theory was first published in the Financial Times newspaper and later shared on Twitter/X by Julian Klymochko, founder of Accelerate, an investment firm based in Canada. “If that were true, my playlist would just be ‘Daniel’s 30-second sound repeated!”, Ek responded on the platform. “But seriously, that’s not exactly how our royalty system works,” he continued. Analysts point out that artificial streaming — which occurs when devices play chosen tracks on repeat — is harming the music industry. Executives at JP Morgan estimate that up to 10% of all streams are fake, according to the Financial Times. Last week, Swedish newspaper Svenska Dagbladet reported that criminal groups were using Spotify’s royalty system to launder money obtained through drug trafficking. According to the Spotify website, the platform has two royalty levels and artists are paid once a month — but the amount they receive may vary. “Contrary to what they say, Spotify does not pay royalties with a value per click or per streaming. The payment that the artist receives varies according to how the music is streamed or contracts with record labels/distributors”, says the website . Universal Music Group and Deezer recently announced the joint launch of a music streaming model aimed at generating higher royalties for artists — meaning they will receive more if users actively choose to listen to their music. This could mean that Spotify and other streaming services like Apple Music will be forced to adjust their own models. Read also: The four ways to make money on TikTok: understand ‘Brand evaluator’: scam with the name of Shein attracts victims through YouTube, Google and apps iPhone 15 should be launched this Tuesday; see what to expect from Apple’s new cell phones VIDEOS: see technology tips Lost cell phone? See how to locate iPhone and Android via computer or app Contactless card scam: see how criminals act How to make ‘Random Photo’, a popular photo collage on Instagram and TikTok

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