The head of pop singer Taylor Swift’s label, Big Machine Records, is not convinced that the numbers the music industry is seeing with streaming are entirely accurate in the big picture. Scott Borchetta, during an interview at Canadian Music Week, said we need to be more careful with how we talk about streaming revenue and growth in the music business.
When interviewer Alan Cross brought up Spotify and his belief that all major artists are getting more revenue from streaming than physical sales Borchetta cut him off to say it wasn’t true. Borchetta stated that, while true for a few big names like Drake and Ed Sheeran, it was not the same story for the rest of the industry.
He also said that the numbers coming out of the industry in regards to streaming and terms like “track/streaming equivalent album” are misleading and misunderstood.
However, Borchetta also stated that streaming is here to stay and that there is an absolute need for “premium” subscriptions to work.
Digital Music News shared part of the back and forth at Canadian Music Week which you can read here.