ENTERTAINMENT
01/26/2015 12:11 pm ET Updated Jan 26, 2015

Pete Wentz: Music Streaming Services ‘Don't Appropriately' Value Musicians

Taylor Swift sparked a national debate about streaming services last year when she pulled all her albums from Spotify, joining other artists including Garth Brooks and AC/DC. And even though the majority of musicians are featured on streaming services, the issue of valuing musicians appropriately is still on the minds of bands, including Fall Out Boy.

In a conversation with HuffPost Live about the group's newest album, "American Beauty/American Psycho," Fall Out Boy bassist Pete Wentz said the current model of streaming services doesn't completely value either musicians or songwriters.

"One of the reasons is that there’s all these different [services], and we’re trying to figure it out and trying to regulate that," Wentz told host Caroline Modarressy-Tehrani on Friday. He added that as soon as the industry can "really nail down the model, I think it'll be really great for all musicians."

Wentz was candid in saying his band hasn't suffered from streaming services, nor would they be as successful without peer-to-peer file sharing, but because some musicians do rely on what they make day-to-day, "it's important that the art is valued."

Click here to watch the full conversation with Fall Out Boy.

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