By: Joseph Zapinski
In the internet age, it's no secret that it has become incredibly easy for anyone to post their music online. A musician's success with having their music on various streaming services depends entirely on their intention: are you trying to make a living from this? Or are you just trying to have your music heard? Streaming services like Soundcloud and Spotify are great platforms for musicians to get their content out into the world, but is that where the money really is? If you are someone trying to make a living from having your music on these sites, it turns out that you are at an incredible disadvantage. It takes a huge amount of listens and a lot of name recognition to make even a small amount of money. Depending on whether or not a paid or free user listens to your song on Spotify, it takes roughly 500,000 listens to make only $4,000 2. Unfortunately, this is still the best place to make money as an artist.
Of all music streaming services, Spotify currently pays out the most of anyone with 51.51% of all streaming revenue coming from them 4. If you are not also doing live shows and touring, this is not the most lucrative of business decisions, however, it is necessary. Music streaming makes up 60% of music consumption in the U.S. 1, and of that 60%, Spotify and Soundcloud dominate the industry in user numbers with 140 million and 175 million total users respectively 3. It's important to note, however, that if a new artist cares more about just getting their music out there and build a fanbase, then streaming services are a great way to be heard.
In essence, music streaming is a necessary evil that I believe does hurt new musicians trying to make a living. It takes being at the absolute top of the music industry to make a living from streams.. For musicians looking for a way to reach new listeners and simply get themselves into the music scene, streaming services are not only beneficial, but necessary.
1: http://www.businessinsider.com/music-streaming-in-us-nielsen-chart-2017-7
2: https://www.vox.com/2014/11/24/7272423/taylor-swift-spotify
3: https://en.wikipedia.org/wiki/Comparison_of_on-demand_music_streaming_services
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