Billion dollar windfall? Spotify to update how it pays rights holders
Music streaming giant Spotify said Tuesday it will modify how it pays artists in 2024, introducing a minimum number of times a piece must be streamed before qualifying for royalties.With its announced changes, Spotify estimates it can generate around a billion dollars in additional revenue for artists over the next five years. The world's largest music streaming platform said on its website for artists that it plans "to further deter artificial streaming, better distribute small payments that aren't reaching artists, and…