The global music streaming market today is developing in hypertemps. Analysts unanimously claim that this trend will continue in the coming years. The pandemic made adjustments to the plans of musicians who received the main income from performances. Yes, the sale of music on physical media is a thing of the past. That is why many performers reoriented themselves to promoting and selling compositions using music streaming services.
Having uploaded music to the service, the artist can count on receiving royalties – income for using his composition by a music service. In addition, his music will be distributed around the world. So, the streaming service today can be considered as an almost ideal mechanism for the «promotion» of the performer. But streaming also allows you to make good money, being almost the only perfume for the world music industry in a pandemic.
The most popular venues for hosting music were YouTube, Apple Music and Spotify.
No one knows the exact data on the payments to musicians for each listening to their track. However, streaming market analysts cite the following payout figures:
• Apple Music – $0.0076;
• Spotify – 0.0026-0.0049 dollars;
• YouTube – $0.004.
At the same time, income is divided between the author and the performer, performers usually receive about 20-30%. This means that for every 10 thousand plays in Apple Music, the artist will receive $ 15 – 25. A million auditions, respectively, will bring $1,500 –2,500.
In the same way, you can calculate the estimated profit on the remaining indicated services.
Streaming services live on the money that subscribers pay, and they pay an average of $10 a month. While music is now listened to almost around the clock, which in itself makes serious adjustments to the business model of streaming services, because the more tracks the user listens to in a day, the more royalties will have to be paid.