Spotify has announced the launch of a new analytics platform, specifically aimed at music publishers.

Publishing Analytics will provide daily streaming statistics for all of a publisher’s artists, including playlist performance. It will not change the way that publishing royalties are currently paid.

Alex El-Nemer, director of blockchain and cryptocurrency enterprise Nexus, commented on the new platform: “The introduction of Spotify’s new analytics offering signals a shift in power, giving publishers and artists access to important statistical insights into the performance of their work.

“Moving forward, it is important that all online streaming platforms recognise the urgent need for providing this level of accessibility to the people responsible for creating the product. In the US, the recent Music Modernization Act will go some way towards extending digital rights, including the ability to secure payment for downloads, but much more needs to be done.

“The fact remains that many music artists and publishers around the world are not getting fair remuneration for their hard work, something which technologies like blockchain and cryptocurrency can solve instantly, with full accountability. It’s time for music streaming services and sites to look again at how they can benefit users, ensuring the rights of artists are protected at all times.”

Jules Parker, head of publishing relations & services, EMEA and APAC, Spotify, said: “One of our core missions at Spotify is to provide creators the opportunity to live off their art. The publishing community is integral in supporting the songwriters that create the music we love.

“With more information, publishers are empowered to make the most of the opportunities the global reach of Spotify provides, and the more information we can share with each other, the more opportunities we can help create for songwriters.”