Scott Borchetta, CEO of Big Machine, defended the decision to remove Swift’s entire catalogue of music on 3 November, stating that she earned $496,044 in the past 12 months for streams of her songs in the US.
The figures are in contrast to what Spotify owner Daniel Ek claimed in his blog post.
Swift decided to remove her albums from Spotify because she believes “music should not be free”.
Swift reportedly said: “[Fans] can still listen to my music if they get it on iTunes. I hope they [Spotify] don't underestimate themselves or undervalue their art."
In his blog post, Ek defended the service, saying: “Taylor Swift is absolutely right: music is art, art has real value, and artists deserve to be paid for it. We started Spotify because we love music and piracy was killing it.”
Spotify has come under pressure for the amount of royalties it pays to artists. The streaming service claims it has paid billions of dollars to those it works with, but critics claim that it massively undervalues the work that goes into new music.