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Spotify royalties overtake iTunes in Europe

07 November 2014, 11:32 | Written by Ben Curtis
(News)

Kobalt Music Group have reported an increase in royalties paid by Spotify for the first quarter of their financial year. Six months ago iTunes paid 32% more than Spotify, however Spotify have reversed that trend; paying out 13% more than iTunes.

Kobalt represents a number of artists (over 6000) including hairy genius Dave Grohl, Charli XCX, folk legend Bob Dylan and Bon Iver.

Although this only highlights one publishers results, for one quarter, and just in Europe; Apple appear to be concerned, as they strive to lauch their own streaming service to combat Spotify. The Wall Street Journal reported last month that iTunes music sales are down around 13% this year.

Taylor Swift recently announced that she was pulling her entire back catalogue from Spotify.

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