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The Quietus | News | UK Parliament Inquiry Into Streaming Releases Report
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The end of the UK touring industry : Blur on why the EU needs to let British music play
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Spotify hits new all-time high on the New York Stock Exchange
The streaming giant s value rose to roughly $66.1 billion this week
Spotify. CREDIT: Spencer Platt/Getty Images
Spotify stock has hit a new all-time high on the New York Stock Exchange this week.
On Friday (January 8), the streaming giant’s stock reached $354.60, and closed at $353.48, up 7% from the closing price the day before and up 12.2% for the week. At Friday’s high, Spotify’s value rose to roughly $66.1 billion.
According to market data company Refinitiv (via
Billboard), Spotify’s stock is valued way above what many analysts have assessed it to be worth. The median analyst price target lists the DSP’s stock at $299.46, which is 15.6% below Friday’s high price.
Jimmy Page joins calls for fairer payments from streaming services I fully appreciate the dilemma surrounding streaming royalties
Led Zeppelin guitarist Jimmy Page has called for fairer payments to artists from streaming services.
Page joins a growing list of musicians criticising the low royalty payouts from the likes of Spotify and Apple Music.
In a new Instagram post, Page wrote: “Having recently viewed the Select Committee for Music Streaming on 24 November 2020 I feel compelled to write this letter.
“I fully appreciate the dilemma surrounding streaming royalties that should be rightfully paid to all musicians and writers who made the music.”