Music sales have been transformed by streaming services. Digital streams bring musicians nearly 80% of all of their incomes. And this tendency will be stable in the nearest future. Times change, however, musicians wish to understand how much they can really earn. So, how much does Spotify, one of the most popular platforms in the music sphere, can offer?
Spotify’s monetization has always been criticized. The fee is so small that you can barely gain anything if you’re not famous. Let’s break this down. If you’re interested, how much do 1 million Spotify streams pay, know some data about it.
On average, Spotify pays content owners between $0.003 and $0.005 per stream. Approximately 70% of the total revenue generated for each stream goes to the artist and the rest goes to the platform.
The musician’s Spotify copyright agreement as well as their country of origin has an impact on how much they get paid. Each listener’s region will be taken into account, as well as whether they use a free Spotify account or a Premium subscription. The average income you can get as an independent artist per 1 million streams is about $3,000 – $4,000. The income will depend on your country, taxes, etc.
As for other platforms, the pricing is quite similar. The most well-paid platforms are Amazon Unlimited, Facebook, iHeartRadio, and YouTube Red. If a musician puts his playlists on several platforms, his income might get higher.
We can give some tips on how to get 1 million streams:
• Reputation. You need to create an account with an easy-to-remember name, get it verified, and create a certain vibe around it.
• Be active. Make playlists with various genres.
• Invest. If you have some money to spare, use Instagram ads, or any other promotion strategies.
• Be in-demand. It is not easy to be an artist nowadays. You need to be popular, and it means you need a rather consistent uploading schedule.
Can you earn enough on Spotify’s payments? Probably, not. You have to get at least 10 million listens a year in order to earn the equivalent of minimum wage. However, if you combine it with other platforms, or take it as additional income, it might be profitable.
If you need help in transferring playlists from one platform to another, try to use the special service MusConv. There are other additional features you can learn about. We work with 50+ streaming services such as Apple Music, YouTube Music, Spotify, Amazon Music, etc. If you’re interested, the home page will demonstrate to you all the necessary information.