The NY Post reports Buffet told Daniel Ek, chief executive of the music-streaming company, that artists deserve a bigger cut of the company’s revenues.
“Do you see anything in your future where we might get a raise directly from you as opposed to going through the bulls–t you have to go through to deal with a label these days?” Buffett asked Ek during the question and answer segment of a media panel here.
He took the mic during the Q&A session of the second panel of the morning, “Disrupting the Music Business,” at the Vanity Fair New Establishment Summit.
Ek said Spotify is committed to transparency and is working to better show how streaming is financially benefiting each artist. One benefit of the new tracking system is that payouts will be done more frequently, rather than just on an annual basis, he said.