Criticism of Spotify not think his fans deserved the low quality they were receiving, and said it was bad for his music. Young's music has since returned to Spotify and other streaming services. In response, Spotify claims that they are benefiting the music business by "migrating them away from piracy and less monetized platforms, and allowing them to generate far greater royalties than before" by offering a free, ad-supported service tier, and then encouraging users to opt into the paid subscription. In June 2012, Charles Caldas, CEO of the Merlin Network (a representative body for over 10,000 independent labels), clarified that Spotify pays
International Financial Services Centre IFSC focused). The Corporate Treasury sector primarily consists of small IFSC subsidiaries of large non-financial multi-national services organisations (e.g. Pfizer, Xerox), which serve as a hub for in-house treasury functions (i.e. cash pooling, fx hedging), for their global parent and sometimes serving as shared services centres serving multiple locations and functions (providing administration and bookkeeping functions). While it is roughly estimated that between only 200-300 people are directly employed in the Corporate Treasury sector, the level of Irish corporation tax paid by these hubs is close to €200m per annum, making it more valuable to the Irish Economy then the