“I’m thrilled by this acquisition and the belief that Google has placed in us,” Ek offered in a statement. But insiders are already speaking of Ek’s ouster, based on his perceived over-spending on artist royalties.įor now, Ek appears none the wiser. Spotify CEO Daniel Ek is now likely to be praised as one of tech’s most important entrepreneurs and visionaries. “We hope this game-changing approach will truly re-orient artists towards an exposure model, while we continue to pay the labels,” Rutherford explained. In one expected outcome, Google will seek to eviscerate traditional royalty payout models, while maximizing obfuscated direct-pay advertising ‘monetizations’ to Alphabet. Perhaps most critically, Google is planning to initiate what is being code-named ‘royalty re-engineering’ alongside the acquisition. That ‘penny day’ rate will be reduced to the customary $0.00006543 rate after the 24 hour period lapses.
As part of the payout, all artists will also receive a special streaming payout of 1-penny per-stream, for a limited 24 hours period. Post-acquisition, investors Goldman Sachs, Kleiner Perkins Caufield & Byers, Northzone Ventures, and billionaires Sean Parker and Li Ka-shing will receive several billion dollars each. “Now, we can combine the best of three worlds: Google Music, YouTube Music, and Spotify.”Ĭustomary closing details come later.
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