UK music distributor STHoldings has removed nearly 200 independent record labels from streaming services, claiming they "cannibalise the revenues" of the traditional music scene.
Of the 200 indie labels STHoldings helps distribute, only four have requested their catalogue remains available through the streaming sites, with the rest now removed from Spotify, Simfy, Rdio and Napster.
The decision has come about due to two big concerns. Obviously one is the money aspect, with streaming providing "poor revenue" with a "detrimental affect on sales" according to the distributor. As well as that, the labels feel streamed content "loses its specialness by its exploitation as a low value/free commodity."
Some of the maths has been explained on the distributor's Twitter page, where it came up with the below formula to value modern music:
"3 sheets of toilet paper = £0.010 / Payout out for one stream = £0.006 Music < arse wipe"
Image credit: ST Holdings