Neil Young has sold over 75 million records and is likely wealthy beyond most peoples dream. He probably doesn't care a lick about lost Spotify revenue and "cashing in" in is likely raising awareness for a cause he believes in.
I really don't think Neil Young cares about lost Spotify revenue at all. He's already wealthy and at 76 years old and this is more about publicity for something he believes in.
Maybe not; Spotify is famous for how little they pay artists for song plays. Most artists seem to think of it as a marketing channel like radio, not a revenue source.
> Spotify is famous for how little they pay artists for song plays
Maybe, but
> 60% of Young's streaming revenue comes from Spotify meaning the move is likely to cost him and his record label, Warner Bros[1]
So what "little" they paid him was still the majority of what he was making. And I think it will be hard for someone from his genre (1960's/70's) to make a come back. Most people under 35ish-40 have never heard of him and likely won't listen due to the genre.
He sold 50% of his music rights for $150 million last year. And he was rich already. His investments should make much more than streaming. He just signed a deal with SiriusXM too.[1] I think he'll be all right.
Deals like this are happening because there is so little revenue from streaming.
This is why you hear Led Zeppelin and Dylan songs in car ads now. With little revenue from recording sales or streaming, artists are leaning more on other revenue like sync licenses and co-marketing deals. If you read carefully, the Sirius deal is not just access to Young’s back catalog, it is using his name to market Sirius. He gets paid for that on top of the music itself.
Do you really think musicians make most of the money they make from streaming? Dude could have 1 concert a year and pull in more than his streaming would in a decade. Not to mention merch, commercial licensing.. etc..