Newswire: Portishead reveals exactly how much money it makes from streaming services

Jay Z’s newly launched Tidal music service has reignited the debate about the economics of music in an era where streaming services like Spotify, iTunes, and YouTube reign supreme. In hopes of adding to that discussion, Portishead’s Geoff Barrow recently took to Twitter to share exactly how much money the band actually earned from its 34 million streams last year. His estimate: After taxes he was left with £1,700, or around $2,511, according to Consequence Of Sound.

34,000,000 streams Income After tax = £1700 Thank U @apple @YouTube @Spotify especially @UMG_News for selling our music so cheaply.

— Geoff Barrow (@jetfury) April 13, 2015

That’s a rough estimate of my income from the streams

— Geoff Barrow (@jetfury) April 13, 2015

Sorry seems like my tweet has hit a nerve! that’s a rough estimate but it’s not far off When is this madness going …

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