TECH - Can You Really Pocket $1200 Monthly On Spotify With Your 30-Second Track On Endless Loop? 'Not Quite' Says CEO | Benzinga
In a recent digital exchange that has music enthusiasts buzzing, Julian Klymochko, the CEO of Accelerate, raised an intriguing possibility surrounding music royalties on Spotify Technology SA (NYSE:SPOT), only to have its founder and chief debunk it.
What happened: Citing a JPMorgan report, Klymochko tweeted, “According to JPMorgan, if someone uploaded their own 30-second track to Spotify, and then programmed their phone to listen to it on repeat 24 hours a day, they would receive $1,200 a month in royalties.”
See Also: Elon Musk Says Bill Gates ‘Doesn’t Get Enough Negative Feedback’
The claim, which came from an analysis conducted by JPMorgan, as reported by the Financial Times last week, suggests that the royalty structure of Spotify could be manipulated by artists — or even regular users — to gain significant monthly revenue through repeat plays of short tracks.
However, the Swedish music streaming giant’s CEO was quick to counter ...