No! We Didn't Earn That Much: Taylor Swift's Label Hits Back at Spotify's Justification

Shooting down Spotify CEO Daniel Ek's claims that Taylor Swift could make $6 million a year on the online music streaming service, the "1989" hitmaker's label Big Machines denied they made that much money.

Big Machine CEO Scott Borchetta told TIME magazine on Wednesday that Swift was paid less than $500,000 in the past 12 months for domestic streaming of her songs. Borchetta also added that the label makes more money on video streaming site Vevo than on Spotify.

"The facts show that the music industry was much better off before Spotify hit these shores," Borchetta told Time.

"Don't forget this is for the most successful artist in music today. What about the rest of the artists out there struggling to make a career? Over the last year, what Spotify has paid is the equivalent of less than 50,000 albums sold," he argued.

The burgeoning battle between Spotify and Taylor Swift all started off when Swift pulled her "1989" catalog off Spotify.

"...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. And I just don't agree with perpetuating the perception that music has no value and should be free," Swift told Yahoo in an interview that time.

The whole issue is affecting Spotify's business as many artists have started pulling out their discographies from the streaming site. Jason Aldean, Brantley Gilbert and Justin Moore Yank were the latest stars to remove their catalogs from Spotify.

While it's proving catastrophic for Spotify, the issue has definitely helped bump up sales of "1989" for Taylor Swift. The "Shake it Off" crooner has sold more than 1.68 million copies of her album and her first week sales alone exceeded $1.28 million smashing previous records, reports BBC.