Since the day digital platforms have become the primary means of consumption for music lovers, the music industry has never known how to live without them to advance its market. It’s almost impossible not to want to listen to a song at some point during the day. And thanks to streaming, it has become something simple and practical. Music platforms are becoming more and more popular, there are many options filled with songs, artists and content for all tastes. But do you know what is the best way to make money?
From Spotify to Apple Music, artists and their works are getting more and more famous due to the amount of streams they receive.
But while this is a victory for the music scene, when it comes to rewarding these reproductions, musicians still need to win the battle to ensure they get paid fairly, as the top 1% of the most listened to artists in the world account for 90% of total streams on the services.
- Officially launched in 2008, Spotify has grown exponentially and has become a global favorite. The app currently has a catalog of over 80 million songs. Streaming allows you to create personalized playlists, and the platform itself creates playlists based on the success of each music genre or activity performed, such as meditation. But the streaming service only pays an average of $0.00348 to artists, which is very little and has repeatedly outraged the artists themselves.
- Amazon Music is an Amazon streaming service that debuted in Brazil in 2019 but has been around since 2008 and was the famous Amazon MP3. The app from Jeff Bezos has a catalog of over 75 million and can be used across multiple devices. This streaming service is popular with artists, paying around $0.01123 per stream.
- Deezer is a live streaming pioneer, the platform launched in 2007 and has grown, but not as much as its competitors that came later. The app currently has a catalog of over 73 million songs. In the basic subscription, Deezer has low audio quality at only 320 kbps, while the HiFi subscription is only CD quality, further falling behind the competition. Its cost per stream for artists will be $0.00562.
- Apple Music streaming came a little later and was only launched in 2015. Even late entering the music streaming business, the platform has grown significantly and has a catalog of more than 90 million, among the main ones is a platform with a lot of content available. An artist receives approximately $0.00675 for each stream of their composition on this streaming service.
It should be said that the above figures for payment for one stream are largely averaged. The size of the piano is directly affected by how many times the song was listened to on a given music streaming service, in which country (this determines the cost of a paid subscription for many streaming services), and also by the percentage of paid users of the music platform who listened to the song.
The higher the percentage of paid users who listened to the track, the higher the payment for a premium subscription in a certain country, the more streams the song had under these conditions, the greater the amount of royalties received by the artist who placed the pension on the music streaming site.