Steve Lukather recently revealed in an interview with Guitar World that Toto has seen significant financial success from streaming services.
The guitarist expressed a positive outlook on streaming platforms, which have become a lucrative revenue stream for Toto. Contrary to the prevalent complaints within the industry regarding streaming payouts, Lukather has embraced the digital shift, saying:
“I know a lot of guys complain about streaming, but not me. It’s really helped us, even though people are pissing and moaning. When I first took over the management stuff, I made a great deal with Sony for streaming. We get a lot of streams, and over the last eight or nine years, we’ve gotten billions of people listening to the music. So even though I’m an old bastard, I have no complaints.”
A Love Affair With Spotify
Further detailing their success, Lukather shared insights during a 2023 chat with Inside MusiCast, specifically praising their relationship with Spotify. He stated:
“Spotify, I love. People hate Spotify, but I love Spotify. You know what? Because we negotiated a great new deal in terms of percentage eight or nine years ago. I first went to the management part, and we were trying to get our first album back to revision of everything from 1977. It was the 35-year-old or whatever.”
The musician also discussed the efforts to revise the rights to Toto’s first album and ensure fair streaming royalties for band members. Thanks to proactive management and negotiation strategies, Toto has secured a much better financial deal from streaming than many other artists.
A Shift In Perspective On Streaming
Interestingly, Lukather’s current appreciation for streaming platforms marks a significant shift from his stance in 2013, when he expressed skepticism and frustration over the transparency and fairness of streaming payments.
Despite the band’s streaming success, Lukather announced that Toto would not produce any more records due to complex legal issues. However, his love for the band’s music remains strong, as evidenced by his latest solo album, ‘Bridges.’ This album aims to recapture the essence of Toto’s ’80s sound, an endeavor that Lukather describes as a fun project that allowed him to ‘scratch that itch’ for the style of that era.
