Chance the Rapper says Apple paid him $500,000 for a two-week album exclusive
Chance the Rapper has revealed that Apple paid him $500,000 to post his “Coloring Book” album on Apple Music exclusively for two weeks.
Apple Music paid $500,000 for a two-week exclusive of Chance the Rapper's album / Credit: Apple
After the two-week window the musician, who isn’t signed to a music label, was free to take his album anywhere, when he posted it on SoundCloud for free.
The musician said he “needed the money” and that “artist can gain a lot from the streaming wars as long as they remain in control of their own product”.
It’s the first time the extent of an exclusive deal with Apple has been revealed, and shows the length the media giant will go to to attract more subscribers and foil rival subscription services like Spotify.
In response, Spotify this week announced it would take Apple’s lead and restrict some new releases to its premium tier. It means the platform could receive a reduction in royalty fees, an attractive prospect to potential investors ahead of its IPO.
It’s a significant shift after the platform has spent years opposing exclusives, much to the displeasure of musicians, who have opted to release albums on Apple Music and Jay Z’s Tidal where they generate greater returns.
That said, the practice of offering huge sums of money for exclusive album access has been called out by critics who argue limiting access to music reduces its value.
Last month Eddy Cue, senior VP of internet software and services at Apple, reaffirmed that artist exclusives are fine as time-limited promotions, but that the longer-term windowing of an artist’s new album or entire catalogue to one service is “never good” for the wider industry.