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Spotify a "growing" revenue stream, says outgoing Warner chairman
Outgoing Warner Music chairman Edgar Bronfman Jr. says that Spotify is a "real and growing revenue stream", defending the streaming service against an ongoing flood of complaints about its payout rates. "Everywhere we look, Spotify is incrementally positive," says Bronfman, speaking at the D:Dive Into Media conference this week. However, Bronfman also touted Warner's tough stance with Spotify, claiming that the label negotiated a "better economic deal" for its artists than the one put forward by the service.
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