Universal Music Group is in talks with big streaming platforms to overhaul the industry’s economics and direct more money towards artists, according to people familiar with the matter. The shake-up, which stands to revolutionise the way musicians make money, comes as the world’s largest music company is increasingly concerned about the proliferation of songs on platforms such as Spotify, where 100,000 new tracks are being added each day.
The industry is also contending with growing manipulation of the system, including using bots to inflate listening figures and the uploading of 31-second clips that are just long enough to qualify as a “play”.