Stories » Spotify CEO says middlemen gobble cash / New York Post

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Spotify CEO says middlemen gobble cash / New York Post

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Musicians say they're receiving micro-pennies for streaming while Spotify says its paying big bucks. So what gives? After speaking at Spotify's press conference unveiling its new video product and mood-music playlists, Spotify CEO Daniel Ek sat down and told On the Money that his company is paying big artists between $5 million and $10 million annually. "That is meaningful money." So where is it going? Ek responds: "I don't want to point fingers. I think it's more of a systemic thing."

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