Taylor Swift's record label slams Spotify over payment issues

Taylor Swift's record label has claimed that the singer received less than 500,000 dollars in the past 12 months for US music streaming.

Scott Borchetta, the CEO of Big Machine spoke to Time magazine saying that the facts showed that the music industry was much better off before Spotify hit these shores, CNet reported.

Borchetta's comments come a day after Spotify CEO Daniel Ek wrote in a blog post that an artist of Swift's popularity could expect payments in excess of 6 million dollars a year.

Jonathan Prince, Spotify's global head of communications and public policy, said that their users, both free and paid, had grown by more than 50 percent in the last year, which meant that the run rate for artists of every level of popularity kept climbing.