Lava Records CEO and music industry titan Jason Flom sat down with FOX Business Network’s Maria Bartiromo this morning to discuss the music business and a summer that has been dominated by female entertainers.
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The conversation quickly turned to Taylor Swift, an artist Flom aptly refers to as a “generational superstar”. The pop star is making headlines again this week as her most recent LP, 1989, became the fastest selling album in over a decade. The album has sold over 5 million copies in the U.S. since its release in October of last year, according to Nielsen Music.
It was only a few weeks ago that Swift’s open letter to Apple (AAPL) Music went viral, forcing the company to change its policy on artist compensation. Flom refused to mince words on Apple Music, “it comes down to one thing, artists have the right to get paid for their content.”
Flom also took time to recount his story of discovering musician Katy Perry. The industry executive remembers she “carried herself like a star”, even when she was working at a music listening service, earning only $10 an hour. It seems Perry has come a long way from her humble beginnings; the singer was recently listed #3 on Forbes list of highest paid celebrities after making an estimated $135 million over the past 12 months.