Apple Sweetens The Mix For Artists With 10% Royalty Bonus For Spatial Audio On Apple Music: Report
Portfolio Pulse from Benzinga Neuro
Apple Inc. (NASDAQ:AAPL) has introduced a 10% royalty bonus for artists who release their music in Spatial Audio on Apple Music. This incentive, effective from January's payouts, aims to encourage more artists to adopt Spatial Audio and is calculated based on the proportion of Spatial to Non-Spatial plays. The move comes amid a significant increase in Spatial Audio tracks on Apple Music and the European Parliament's call for fair music streaming industry rules.
January 24, 2024 | 9:50 am
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Apple's new incentive for artists to adopt Spatial Audio by offering a 10% royalty bonus could enhance the appeal of Apple Music and potentially increase subscriber engagement and satisfaction.
The introduction of a royalty bonus for Spatial Audio tracks is likely to attract more artists to Apple Music, which could lead to an enriched library of high-quality audio content. This may enhance user experience and satisfaction, potentially leading to increased subscriber numbers and retention rates. The positive impact on Apple's brand as a supporter of artists could also contribute to a favorable market perception.
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