The CEO of Spotify has refuted a claim that people could make over $1800 a month by uploading their own track to the music app.
The Financial Times, citing data from analysts JP Morgan, claimed it would be possible for somebody to upload their own 30-second track, and have their phone play it on repeat constantly to make their own royalties.
The report claimed the trick could bring in $US1200 ($1868) a month.
The CEO of investment company Accelerate, Julian Klymochko, then posted about the theory on X, formerly Twitter – prompting a response from Spotify CEO Daniel Ek.
“If that were true, my own playlist would just be ‘Daniel’s 30-second Jam’ on repeat!” he wrote.
“But seriously, that’s not quite how our royalty system works.”
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Spotify’s website says it does not pay royalties on a per-stream basis.
“We calculate streamshare by tallying the total number of streams in a given month and determining what proportion of those streams were people listening to music owned or controlled by a particular rightsholder,” the website reads.
“The royalty payments that artists receive might vary according to differences in how their music is streamed or the agreements they have with labels or distributors.”
