So at a $0.005 per play royalty on Spotify, that “values” a song at ~250 plays (assuming the $1.29 purchase price at iTunes). I know I have dozens if not hundreds of songs I’ve heard over 250 times (all paid for, NB). One might argue that this is irrelevant because people who make music aren’t ‘making a living’ but $1.29 is fairly consistent with the market value of a single over a long period of time. I mean, we could easily bump the rate to $0.007 or $0.008 for arguments’ sake if we factored in inflation, or even a lot higher (double, triple) and the numbers that would come on the other side of your Spotify statement would still be paltry.
Chris Ott covers it much better, so I’m just putting this here to show WITH MATH that the argument about streaming royalties has very little to do with ‘the problem’.
Guy Fieri should start a record label.