Buffett Asks For A Raise
“Do you see any time in the future where we might see a raise directly from you as opposed to going through the bullshit you have to go through to deal with a label these days?” Buffett asked, according to The Verge.
“How the stream of revenue gets to the artist, particularly young struggling artists, it’s really hard for that to actually happen in real life if you’re a young artist. So I’d hope that all the music service groups would kind of look at that. It’s one thing when it goes to the record label. Most of it doesn’t get to the artist, which would be nice.”
Ek agreed but then said Spotify is spending more than $1 billion on rights this year and pays 70 percent to rights holders.
Irving Azoff, who has talked down Pandora but has left Spotify alone, was on the panel. “But it’s actually still lower than what we used to get — right, Irving?” Buffett reportedly said.
“Sell one of the planes,” Azoff responded.