“Napster is already out front when it comes to doing better for artists, delivering the highest payouts of any streaming service.”
Troiano points to music labels getting 50% of streaming revenue and only around 7% going to the musicians themselves. Streaming services like Spotify Technology SPOT and other allow users the ability to listen to songs with a cut of revenue going to the artists. Years later, music download services from Inc AMZN and Apple Inc AAPL offered better music download options like buying one track instead of a whole album. Napster fought the system by offering its 80 million users the chance to download music for free - until it was shut down. Why It’s Important: Troiano shared the history of a $16 CD, with only 16% going to the artist and the rest split between the record label, manufacturer and the retailer. News of Napster joining the web3 and NFT space in the music sector follows LimeWire, which announced an entry into the space earlier this year.
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