Recently Apple announced how much their artists get to pay for streams, and it was about an average of .01.
If you want to read more about that, read this article here.
As music streaming is now the biggest thing in the music industry it is vital information to know. A way you can develop and invest your time into streaming sites.
While there are many to choose from it is important to recognize which site has you as an artist in mind. While many do give royalties to artists, you need to know how much you will be getting. This royalty will be a cut that was split between you, the streaming site, and other creators who help you.
Because of recent events, like the pandemic, many young artists have begun to struggle to make money through merchandise. So having to deal with streams and virtual events has been their source of promotion and even income. Because of this many have begun to grow interested in what type of “income” or revenue is there for an indie artist. While streaming is now a vital piece of any music lover’s life, is it actually helping indie artists make money.
Spotify Streams and More
In a recent Insider article, they told us that “ that Spotify has paid artists as little as $.0033 per stream, with other sites reporting upwards of $.0054. Translated, you’ll need about 250 streams to earn a dollar.”
And this is a monthly payout.
When the monthly streams are out your streams are tallied and split so that everyone can get a cut. You, as an artist will be the last one paid. Depending on what you get it will be decision-based on contracts and negotiations, as well ad placements and subscription fees.
For example, Glenn Curran indie artist of Sooper Records states, “ and estimates that Spotify pays Sooper roughly $3,000 for a million plays or 0.3 cents per play”. And this was a recent post from 2020. Meaning that Spotify tends to change and constantly update what the royalties will be. You can read more of that on here.
Insider also provided some useful tips to gain those streams you will surely need if you are an indie artist:
- Create a fanbase and remind them to stream
- Convince to upgrade to premium if they can and stream that way, as a premium stream it will help garner more attention.
- Use the PlayList Submission Tool, a great way to discover other artists as well as promote yourself to new listeners.
While Spotify is a popular tool for listeners, it is also an important tool for artists. Learn the ins and out of how the algorithm works and become a trending song. That way you can gain more royalty and finally make the money you deserve.