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Tuesday, April 16, 2024
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Peloton Pays Artists at Better Rates Than Top Streaming Services

woman_looking_at_peloton_screen
Peloton/Design: Alex Brooks

On a per stream basis, Peloton blasting your favorite song during a workout supports the artist who made it more than clicking play on the top music streaming services.

Peloton pays musicians $0.03 per stream. Neither Spotify nor Apple Music pays even one full cent, respectively doling out $0.0035 and $0.0068 per stream.

Slate, citing Trichordist’s most recent “Streaming Price Bible,” reported that while Peloton pays musicians more for songs, it accounts for less than 1% of global streams and 1.28% of industry revenue.

As Peloton continues to grow, it repeatedly prioritizes music through collaborations with artists and music-driven entities.

  • It partnered with Beyoncé last year to create themed workout experiences.
  • Peloton presented a three-day virtual music festival at the beginning of July with acts ranging from Nas to Depeche Mode.
  • The company partnered with Verzuz, a music competition venture, in March.

It hasn’t always been a smooth ride. In 2019, Peloton faced lawsuits for over $300 million in damages for the use of unlicensed songs in classes. The company spent at least $31.1 million to settle, per SEC filings.

Peloton’s payments for music royalties and streaming delivery increased by $81.5 million year-over-year for the nine months ending March 31, 2021.

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