In case you were wondering what the value of songwriting is to Spotify, I think you can measure it pretty directly by the perks they hand out to their employees. I’m sure creators are glad to provide the value that takes care of these folks–while they scrape for every fraction of a penny in Spotify’s many lawsuits.
Employee Benefits and Perquisites
Additional benefits received by our Swedish employees, including Messrs. Ek, Söderström, and Norström, include private healthcare, accident insurance, life and long-term disability insurance, travel insurance, and parental leave. Additional benefits received by our U.S. employees, including Mr. McCarthy and Ms. Ostroff [who has a $1,000,000 base salary], include medical, dental, and vision benefits, medical, and dependent care flexible spending accounts, short-term and long-term disability insurance, basic life insurance coverage, and parental leave. These benefits are provided to our named executive officers on the same general terms as they are provided to all of our full-time employees in the applicable countries.
We design our employee benefits programs to be affordable and competitive in relation to the market, as well as compliant with applicable laws and practices. We adjust our employee benefits programs as needed based upon regular monitoring of applicable laws and practices in the competitive market.
We do not view perquisites or other personal benefits as a significant component of our executive compensation program.
And then there’s the cash and stock, like the “Chief Content Officer” who must have line responsibility for the licensing incompetence and goal post moving:
[Editor Charlie sez, what data does Tencent scrape for listeners to the Tibetan Freedom Concert...oh, right, that’s not available.]
Chinese internet giant Tencent has reportedly been surveilling content posted by foreign users on its wildly popular messaging service WeChat in order to help it refine censorship on its platform at home.
WeChat has over 1 billion users globally. It is the most popular messaging app in China and ingrained in daily life, allowing people to do everything from making payments to hailing taxis.
Surveillance and censorship of social media and messaging platforms in China is commonplace. Companies that run such services often remove or block content that is likely to offend Beijing.
But Citizen Lab, a research center that is part of the University of Toronto, said in a report published Thursday, that “documents and images shared among non-China-registered accounts are subject to content surveillance and are used to build up the database WeChat uses to censor China-registered accounts.”
Read the post on CNBC
Spotify has been accused of stealing trade secrets from VoxTonePRO, a Canadian company specializing in online audio branding, in a lawsuit filed Thursday.
“This is a case about a big business stealing from a small business,” the lawsuit, filed in U.S. District Court in Delaware, said.
The lawsuit claims Spotify copied VoxTonePRO’s platform allowing advertisers to make affordable audio spots.
Read the post on The Wrap
In case you missed it, the creator’s loss is Spotify’s gain. No, today is different than usual, because this time Spotify’s gain is not just tied to the misery of artists and songwriters, it’s actually tied to the whole world. According to TechCrunch:
The coronavirus may be decimating some corners of the economy, but the impact on the digital music, as evidenced by the world’s biggest music streaming company, appears to be minimal. Today Spotify reported its earnings for Q1 with revenues of €1.848 billion ($2 billion at today’s rates) and an inching into a positive net income of $1 million. Monthly active users (not total subscribers) now stand at 286 million, with paid (premium) users at 130 million and ad-supported monthly active users at 163 million. Ad-supported users are growing at a slightly higher rate at the moment, at 32% versus 31%, Spotify said.
So far today, SPOT is up $16 a share, which means Daniel Ek made roughly $656,000,000 today alone. And that doesn’t count the warrants.
So the bubbly is flowing at World Trade Center or wherever the Spotify elites are hiding out.
Just like at your house, right?
Do they care about your problems?
[Editor Charlie sez: Welcome back to the Super Bowl of Whack A Mole. This is a huge issue and shows again how little the services pay attention to infringing content because of the fake “DMCA license”.]
Spotify and other major platforms like Apple don’t publicly disclose their processes for ranking podcasts, but industry experts believe the calculation involves a combination of factors like play count, number of subscribers, and listener ratings. The regular appearance of apparently pirated material on the music podcasts ranking raises the possibility that a song like “In My Feelings (Spanish Version)” is a minor hit that isn’t being formally accounted for.
Read the post on Pitchfork.