The National Music Publishers Association has filed a an FTC complaint against Spotify over the company’s audiobook bundle offering, arguing that the premium subscription tier bundle is “a scheme to increase profits by deceiving consumers and cheating the music royalty system,” Rolling Stone’s Ethan Millman reports. The trade group’s complaint comes months after Spotify started paying lower mechanical royalties to songwriters as part of its audiobooks bundle. NMPA CEO David Israelite revealed the FTC complaint during his speech for the trade group’s annual meeting in New York, saying “Spotify has declared war on songwriters” and that “Our response shall be all-encompassing.”
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on SPOT:
- Spotify to introduce more expensive premium plan for music lovers, Bloomberg says
- Spotify to introduce new higher-priced premium plan, Bloomberg says
- Twitch boosts U.S. subscription prices for the first time, Engadget reports
- Spotify price target raised to $405 from $375 at Benchmark
- Spotify price target raised to $375 from $365 at JPMorgan
Questions or Comments about the article? Write to editor@tipranks.com