Apple has recently announced a new initiative to provide a higher percentage of royalties to artists who offer spatial audio. However, this move has sparked controversy among indie labels, as they believe it will divert potential earnings from them to larger companies with greater resources. According to a report from the Financial Times, Apple’s decision to offer 10 percent higher royalties to artists releasing spatial audio tracks on Apple Music is drawing criticism from indie labels. The concern is that this increase comes from the same fixed pool of money used to compensate artists who do not offer the spatial audio format.
Spatial audio, which is created using Dolby Atmos technology, reportedly costs around $1,000 more per song. For a full album, the cost would be approximately 10 times higher. When considering the extensive back catalog of albums that a label may have, this additional expense becomes a significant concern. The Financial Times interviewed executives from Beggars Group, Secretly, and Partisan Records, which represent artists such as Vampire Weekend and Phoebe Bridgers.
2024-02-04 16:17:30
Post from www.engadget.com
