Spotify Hit With FTC Complaint by Songwriters Association Over Royalties [BNN Bloomberg (Canada)]
Spotify Technology S.A. Ordinary Shares (SPOT)
Last spotify technology s.a. ordinary shares earnings: 4/29 06:00 am
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Source: BNN Bloomberg
music publishers and songwriters, filed a complaint with the US Federal Trade Commission on Wednesday about Spotify Technology SA's decision to provide audiobooks to subscribers, which resulted in reduced royalty payments to songwriters.The audiobooks addition gave Spotify leeway to reclassify its premium subscription offering as a “bundle.” Under a complicated system set by the US Copyright Royalty Board, that qualifies Spotify to pay a discounted rate to songwriters since it's now paying for the licensing of books and music under the same subscription price. The NMPA alleges in its complaint that the bundle is unlawful since subscribers were automatically rolled in, with no option to remain on a music-only tier, which doesn't yet exist in the US. Payments to songwriters could drop by around $150 million over the next year as a result, according to the NMPA. “This bait-and-switch subscription scheme is ‘saddling' shoppers with recurring payments for products and services they did
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SPOT
News
- Spotify (SPOT) Sees a More Significant Dip Than Broader Market: Some Facts to Know [Yahoo! Finance]Yahoo! Finance
- Apple Hit by Fresh EU Warning Over Alleged App Store Abuses [BNN Bloomberg (Canada)]BNN Bloomberg
- Spotify offers additional plans for US subscribers; holds niche with audiobooks [Seeking Alpha]Seeking Alpha
- Spotify Adds a New Lower-Priced Subscription Plan for U.S. Subscribers [Yahoo! Finance]Yahoo! Finance
- Spotify Adds Audiobook-Free Plan for $11 [CNET News]CNET News
SPOT
Earnings
- 4/23/24 - Beat
SPOT
Sec Filings
- 6/12/24 - Form 144
- 6/10/24 - Form 144
- 6/7/24 - Form 144
- SPOT's page on the SEC website