In a story reported by the Los Angeles Times based on a presentation at SXSW, Daniel Ek, founder of Spotify, predicts increased revenue for artists as streaming media becomes more prevalent. Ek states that Spotify will pay $500 million to labels in 2013. The Spotify service currently has 24 million users; 6 million are paid subscribers, the other 18 million use Spotify for free but hear ads. Ek’s goal is for 1 billion people to use streaming services rather than pirate sources.
Read the full story at the Los Angeles Times site.