Taylor Swift's record label rejects Spotify's claim singer stood to make $6m a year from service

The label said Swift only made $496,044 from streaming in the past year

Taylor Swift's record label has refuted claims made by Spotify (Getty)

Taylor Swift’s record label has denied claims made by Spotify that the singer was on track to make $6 million a year from the streaming service.

Scott Borchetta, CEO of Swift’s independent record label Big Machine, said the singer had in fact only earned $496,044 from streaming her songs in the US in the past 12 months.

Borchetta said his label made more from streaming Swift’s videos on Vevo than from putting her music on Spotify.

But Spotify have refuted the claim, telling Time magazine it had paid out $2 million for global streams of Swift’s music.

The dispute between Swift and Spotify has grown since the singer pulled her back catalogue from the service earlier this month, just before her new album 1989 was due to be released.

“I’m not willing to contribute my life’s work to an experiment that I don’t feel fairly compensates the writers, producers, artists and creators of this music,” she said.

Spotify CEO Daniel Ek hit back at Swift’s claim on Tuesday, saying the business had paid out $1bn to recording artists from 2008 to 2013.

“Taylor Swift is absolutely right: music is art, art has real value and artists deserve to be paid for it. We’re working day and night to recover money for artists and the music business that piracy was stealing away,” he said.

Read more: Spotify hits back at Taylor Swift