Spotify Shuts Down Artist Royalty Calculator Amidst Executive Stock Sell-Off
2024-12-28
Spotify CEO Daniel Ek's wealth soared this year after significant stock sales, while a calculator exposing Spotify's low artist payouts—Spotify Unwrapped—was shut down due to legal threats. The calculator highlighted the stark contrast between exorbitant executive compensation and meager artist earnings. Although the calculator is gone, its formula remains public, fueling debate about streaming service payment models. Meanwhile, multiple Spotify executives cashed out over $1.25 billion in 2024, following widespread layoffs and premium price hikes.