It was an emotional roller coaster last week, as a glitch in Spotify’s payment software accidentally paid artists 2.5x their $0.003 per stream rate, nearly equal to that of other streaming platforms. Although the error was quickly spotted and fixed, the fallout was terrifying. Artists all around the world were on track to be able to pay their bills and live off their music.
Spotify Live Press Conference — “We want to extend our deepest apologies to all the artists impacted by this tragic event. We didn’t mean to get your hopes up. We’ve returned your rates to the acceptable, below-industry-standard of $0.003, so be sure to keep those day jobs.”
Phewf. Glad they caught that. There could have been some real ugly success stories on our hands.