The Internet today is simply filled with information about the possibility of earning money on popular streaming services. Of course, the leader among them was and remains the Swedish streaming service Spotify, which can be proud that it has the largest number of users – more than 350 million. Half of them have a paid subscription.
Spotify’s payments are influenced by a huge number of factors. This is whether the listener has a paid subscription, and the subscription price in a certain country of the world, and the percentage that the founders of the service will decide to pay to the artists for a certain period of time. The uninitiated say that the cost of a subscription depends on the material condition of the country and the average income of its inhabitants. After all, for example, a resident of the United States and Bangladesh cannot pay the same amount for a subscription.
For example, for one thousand strips you can get only about $0.85 in India and already $5.4 in Sweden. It all depends on which market in the world this stream will be.
Further, it should be said that Spotify cannot work without profit. Therefore, he leaves about 30 percent of his income. The remaining percentage will be shared between authors, labels and recording studios.
But with the right strategy, it is Spotify that can become the chicken that will carry golden eggs. For example, Canadian rapper Aldry Drake received a check for $12.5 million from the Swedish streaming service in 2020. Many famous artists began to receive millions on the service. By the way, in all its years of existence, it has paid about 16 billion royalties.
Recently, many artists have begun to advocate for increased payments by this popular streaming music service. And this is not surprising. After all, it was in 2020 that the music industry suffered incredible losses due to the coronavirus pandemic and the restrictions associated with it.