Not that the man behind the “Margaritaville” empire really needs more money, but he’s certainly got the biggest pair of coconuts in the music industry. Jimmy Buffett stepped up to the microphone at the inaugural Vanity Fair New Establishment Summit in San Francisco yesterday, at a Q&A where Spotify founder Daniel Ek was speaking, and asked if he would be making any more money off of Spotify and other internet streaming services any time soon.
“Do you see any time in the future where we might see a raise directly from you as opposed to going through the bullshit you have to go through to deal with a label these days?” he said. “How the stream of revenue gets to the artist, particularly young struggling artists, it’s really hard for that to actually happen in real life if you’re a young artist. So, I’d hope that all the music service groups would kind of look at that. It’s one thing when it goes to the record label. Most of it doesn’t get to the artist, which would be nice.”
Ek agreed with Buffett, but stopped short of telling him that he would be lining Buffett’s colorful Hawaiian short pockets any time soon. Ek said that Spotify would be spending one billion dollars on music rights this year, and 70% of that would be going directly to rights holders. When Buffett tried appealing to legendary music industry manager Irving Azoff, who was moderating the panel, Azoff dryly replied, “Sell one of the planes.”
Classic Buffett. I guess some people say that there’s a woman to blame, but I know it’s the Internet’s fault..
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[via The Verge]