Fairness Rocks News It’s All About the Stock: Tone deaf Spotify Insiders Vote for Stock Buyback to Juice Their Share Price While Congress Questions Streaming Payola


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It’s All About the Stock: Tone deaf Spotify Insiders Vote for Stock Buyback to Juice Their Share Price While Congress Questions Streaming Payola

Spotify announced a second billion dollar stock buy back last week which means they have $1 billion in free cash that they will spend, not for paying artists, not for paying songwriters, but to juice their stock price and make Spotify insiders and senior employees richer still. Remember that Spotify already did this once before in the pre-pandemic. Just like they lavish the artists’ money on their fancy World Trade Center offices and buying the Arsenal Football Club, a second billion dollar stock buy back means more of the same while they pay artists a pittance, songwriters even less and session performers not at all.

Read More: https://artistrightswatch.com/2021/08/23/its-all-about-the-stock-tone-deaf-spotify-insiders-vote-for-stock-buyback-to-juice-their-share-price-while-congress-questions-streaming-payola/