Home Tag "music inudustry"
Somehow, Verge managed to get a copy of the top-secret contract between music-streaming service Spotify and Sony, the major record label that owns music by Michael Jackson, Bruce Springsteen, Mariah Carey and One Direction. The terms may have changed since both companies signed this 42-page deal on January 18th, 2011, but the big news is the big money.
In addition to being 2014's probable best-selling album, Taylor Swift's 1989, out next Tuesday, could be crucial to salvaging the record industry's holiday shopping season in a terrible sales year. Week after week, the biggest music stars have put out what appeared to be blockbuster albums, selling up to a few hundred thousand copies in the first week, then quickly dropping out of the Top 10. Album sales have been down 14 percent all year, and single sales have dropped 13 percent, according to Nielsen Soundscan.