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What is chokepoint capitalism?

The Culture Journalist

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The Immortal Copyright Conflict

The big three labels owned copyrights that they had extracted kind of at lawyer point from their artists. They told Spotify, hey, if you want to start a service, that's cool. You're just going to have to make us your business partners. We want big equity stakes in the company. And then they found themselves in an irreconcilable conflict of interest. The labels negotiated a rock bottom fraction of a fraction of a penny per stream rate for every song that was played.

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