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Spotify Debuts New Design, Countdown Pages, Discovery Tools + $40B to Music Biz; Spin Lives on as Amazon Freevee FAST Channel; Nicky Hopkins Doc Seeks Fans’ Help
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Spotify announced Wednesday that its all-time payouts to music-rights holders are approaching $40 billion.
The company said it pays out nearly 70% of every dollar it generates from music back to the industry, the announcement continues. It generates its music revenue from two sources: subscription fees from its Premium platform paying subscribers, and fees from advertisings on music on its Free tier.
Music and gaming have always been closely linked. From the theme music of 70s classic arcade games like Space Invaders to the multi-radio station experience on Rockstar’s Grand Theft Auto franchise, music created for, and licensed for game soundtracks continues to play a key role in gameplay.
It’s not just TikTok Spotify is taking inspiration from with its app’s redesign, the company also announced today new features inspired by YouTube and other social platforms, like Instagram and Snapchat. One new feature, Spotify Clips, will allow artists to add 30-second videos to their artist profiles — effectively, Spotify’s own Stories feature.
Legendary keyboardist Nicky Hopkins is the subject of a new documentary that tells the story of the gifted session performer who played with The Beatles, The Rolling Stones, The Kinks, The Who, Jeff Beck, and dozens of other classic rock stars.
The Session Man has been completed and is ready for distribution but the producers are seeking financial help to defray costs of licensing the 39 tracks that are featured in the film in order to exhibit it at film festivals.
"This marks the biggest change Spotify has undergone since we introduced mobile 10 years ago," Spotify CEO Daniel Ek said at the company's Stream On event.
Music- and culture-themed streaming channel set to debut on Amazon's free ad-supported platform March 21
Roon, the player for serious music lovers, has long been a darling of the audiophile world, with more than 100k subscribers.