Bands are getting so ripped. Haha that amount of money does nothing. Unless you have like billions of plays.
Another case of the rich getting richer and those who struggle staying poor.
How are you supposed to be proud of going to the bank to cash a check for jack shit?
These companies are getting paid monthly for a service that is just giving away other people's art...
Hmm, well, the rate is higher than what terrestrial radio has paid for years. So, while I agree it's still a relatively small amount, it's actually a larger percentage than artists have been getting from radio for years. The difference is that with the radio the payments were to a smaller pool of bands ($100 to 10 bands vs 100 to 100000 bands -- if you wanna look at the a simplified math version).
They're not just giving away other people's art though -- there are licensing deals and contracts that are in place here, no one is forced to take part and can withdraw their music if they would like.