AMSTERDAM, Jan 11 (Reuters) – Common Music Group (UMG.AS) CEO Lucian Grainge on Wednesday lamented the rising use of brief, low-quality music clips on streaming music platforms, saying they undermine the expertise of followers and are aimed toward evading royalty funds to artists.
Common is the most important document label.
In a New 12 months’s be aware to workers, Grainge stated platforms use common music to entice prospects, however algorithms information them to cheaper “lower-quality practical content material that in some instances can barely cross for ‘music’.”
He stated Spotify’s pioneering launch of a subscription mannequin in 2011 had proved a boon for the trade, however that that was greater than a decade in the past.
“As know-how advances and platforms evolve, it’s not stunning that there’s additionally a necessity for enterprise mannequin innovation,” he stated.
“There’s a rising disconnect between, on the one hand, the devotion to these artists whom followers worth and search to assist and, on the opposite, the best way subscription charges are paid by the platforms.”
“We’d like an up to date mannequin… (that rewards) artists, followers, and labels alike.”
He stated the corporate was engaged on unspecified improvements to make that occur and create a “more healthy, extra aggressive music ecosystem” in 2023.
Reporting by Toby Sterling
Modifying by Bernadette Baum
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