social

How To Make Money From Music Streaming?

Music streaming has evoked a lot of emotion lately. The whole world is switching to music streaming, which today accounts for over 80% of the entire global music industry. Streaming services are beginning to compete for users, striving to expand their geographic influence.

That is why many, many artists and composers are moving on to earn money in music streaming. But how does this happen and how much can you earn from streaming service?

The music market today makes money from streaming music, so artists need a presence on services like Spotify or Apple Music to make a living. Musicians need an average of 2.1 million views to earn the minimum wage on YouTube. Apple Music, on the other hand, pays the most among the popular music streaming services (Napster and Tidal pay better, but again, their user base is much smaller).

Overall, it is difficult to be a musician and rely on direct income from songs to get rich, however, it is hoped that as paid music streaming services become more popular, their income will be much higher.

How To Make Money From Music Streaming

Recently, however, music lovers have been buying CDs less and less as they switched to streaming services from their favorite artists. From their point of view, this is a much more profitable solution, because for the price of one subscription, tens of millions of songs from different musical genres are available to them. It might seem that the music labels are not happy with this turn of events, especially with the drop in album sales. However, it turns out that they have nothing to complain about at all. The latest report from the Recording Industry Association of America (RIAA) shows that they make a lot of money from streaming music, more specifically licenses.

Try it free

Streaming makes the most money in the US. This is due to both the relatively high average monthly subscription costs and the widespread adoption of music streaming in the United States. The income of an artist or composer directly depends not only on the number of plays of his song or music, but also on which country it happens most of all. If we are talking about English-language music content that is broadcast in the United States, Great Britain, Australia, Canada and others, then it is in this case that the income from streaming music will be the most. This earnings are called royalties.

The amount of royalties is also influenced by what percentage of the profits the streaming service pays to authors and performers in the form of royalties.

Thus, streaming is key to the music industry, making up for losses incurred in other areas of activity.

Try it free