OR artists could look to diversify their income stream.Ĭompanies are popping up every day that help artists make more money than ever before. You could scream about streaming and piracy until you’re red in the face while fans and technology ignore the noise and move forward (this seems like a legitimate solution for quite a few). And most of them are with labels who take the majority (to all) of that income. Only the artists getting millions of plays are seeing significant, livable income solely from streaming. + Why Withholding Your Music From Spotify Only Hurts You Over time, sure, this could earn the artist much MORE money than sales. The more someone likes your album, the more she will play it. There’s much more potential for the long tail. I love that it rewards artist for creating great music that fans want to play over and over. I’ve been a strong supporter of streaming since its inception. If we were talking about 5 cents a play versus a half a penny, then maybe. No matter how you slice it, a small to mid level artist is not going to get by with streaming income the way the numbers work out currently. Even if she has 50,000 other fans who listen to the album only twice, that’s just an additional $5,000. However now, even if each fan listens to her (10 song) album on Spotify 10 times in the first few months (1,000,000 plays – impressive!), that would only earn her about $5,000 (and much much less if those plays were on YouTube). Previously, if an artist had 10,000 fans, she could rely on $70,000 ($10 album less iTunes 30% cut) in sales when a new album was released. But, unfortunately, unlike sales, streaming revenue requires massive numbers to see significant income. The jury is still out if it will in the long run. Streaming revenue isn’t making up for the loss in sales for musicians.
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March 2023
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