Sony Music Chief Calls for Free Streamers to Pay ‘Modest Fee’

News Snapshot:

Free music streaming shouldn’t be so free, Rob Stringer, CEO of Sony Music Entertainment, suggested Wednesday during a presentation to Sony Corp. analysts and investors. The value of paid subscription “remains incredible,” said Stringer in prepared remarks during parent company Sony’s Business Segment Meeting 2024. But recent price increases — by Spotify, Apple Music, Amazon Music, YouTube and, most recently, Pandora — have widened what Stringer called the “price gap” between free and paid streaming. Now, Sony wants streaming companies to get more from their free listeners. “In mature markets, we hope that our partners close that gap by asking...