Beats co-founder Jimmy Iovine claims half-a-million people are paying for a Beats Music subscription. This royalty document, leaked to Trichordist over the weekend, suggests completely otherwise.
“Someone sent us this interesting document,” said artist activist David Lowery (and head of Trichordist), who marked up the leak to highlight some abysmal royalty payouts (see below, full doc here). “This is real.”
61,621 + 49,371 = 110,992
Even more more concerning is the royalty rate involved: Lowery calculated that Beats is paying songwriters $0.000126 per song played, based on the document.