Apple's iTunes isn't bringing in money for musicians like it once did. Instead, some artists are making more money come from platforms such as Spotify and YouTube, an exec of a music publishing company at the Web Summit said on Thursday.
Willard Ahdritz, the founder and CEO of Kobalt, said that in the first three months of this year Spotify drove more revenue than iTunes for some songwriters, according to a CNET report.
"People fear because they have not seen any money, but Spotify is paying out a lot of money." Ahdritz told CNET. "YouTube is paying out a lot of money. We know there are billions of dollars coming out... The problem is the pipes are broken."