According to The NY Post, Universal Music — the world’s largest music company, with a 33.5 percent market share — reached a “strategic commitment” to keep from offering exclusives to a single music streamer.
The decision came “after months of experimentation and dialogue,” the source said. Others labels are expected to follow Universal’s lead.
The label, headed by Lucian Grainge, believes the move is best for its artists and their fans over the long term, the source said.
“They no longer want their artists seduced by short-term money,” the source said.
Compensation for exclusives has been offered by Tidal owner Jay Z, whose service further benefits his wife, Beyoncé, Kanye West and others through ownership stakes.
Apple Music is also exclusive-driven, having paid Drake a hefty amount for a seven-day monopoly on his “Views” album and cutting deals with Pharrell Williams before its launch in June 2015.
The biggest criticism of exclusives-as-marketing-ploys is their alienating fans who don’t subscribe to the chosen platform.
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