Music streaming giant Spotify has revealed that it paid out more than €9.2 billion to artists in 2023. However, the number of artists receiving substantial sums was relatively small, with around 70 artists earning €9 million or more.
"In general, streaming services across the board pay in or around 70% of their total revenue to rights holders," Mr Finn said.
"The exact amount an artist or songwriter will receive obviously will depend on the contract with the label they have and the number of streams garnered, whether they have also written a song as well as performed the song."
He added that independent artists who are not signed to a record label may have different agreements, often negotiating directly with Spotify or through distributors.
Mr Finn also highlighted the challenges faced by new artists trying to break into the industry, noting the intense competition.
"The competition is really, really strong given the numbers involved. So it's still unfortunately all about the traditional things like building your fan base through live gigs and honing live performance," he said. "In Ireland, radio is still a very strong avenue for the discovery of new music, so it shouldn't be ignored."
He added that the sheer volume of new releases on streaming services makes it increasingly difficult for emerging artists to gain traction in the market.
Irish artists, like their international counterparts, face similar challenges in securing a sustainable income from streaming. While global superstars see significant earnings, most Irish musicians rely on a combination of streaming, live performances, and radio play to build their careers.
IMRO continues to advocate for fairer remuneration for Irish artists, ensuring they receive a greater share of streaming revenues.
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