Ministry of Sound boss attacks major labels for streaming 'short-termism'
Lohan Presencer has criticised Spotify before, but he's just as angry at Universal Music Group and its rivals for their approach to digital music
Ministry of Sound chief executive Lohan Presencer is no fan of music-streaming service Spotify, but in his latest public speech he reserved more criticism for the major labels that license it.
"Ever since the 80s and the beginning of the consolidation of the record industry" the way that the people who run those companies are contracted and remunerated and rewarded is all short-term," said Presencer, speaking in Brighton at a Fireside Sessions event alongside industry conference The Great Escape.
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Related: Free streaming is 'killing music industry': Ministry of Sound boss
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