Have you heard about Spotify before? Well, approximately two and a half years ago, Spotify has landed on the US with much fanfare, and here we are with additional news about this unique service. In fact, Spotify has announced that they have already paid out over $1 billion in royalties ever since it was launched, and its most recent efforts in engaging even more people would be the introduction of a website which intends to explain just how does it work so that other artists and music professionals will be able to get a better idea.
This new website has the intention to make sure that its business model ends up as more transparent, which is a surefire way to win some brownie points among the masses. As for the issuing of $1 billion in royalties since its inception in 2009, that is certainly a mind blowing figure. After all, at the corresponding point of time in 2012, Spotify only had a total royalty payout of $500 million, which meant that in this year alone, Spotify has already forked out $500 million in royalties, now how about that? Do you think that Spotify is here to stay for the long term, or will it eventually be overtaken by something newer and better?