This means that Spotify isn’t just being mean or miserly when it comes to payouts. But Spotify is by far the biggest of the streaming companies, so most of the focus is on that one. But even if you have your song on every single streaming platform (which you definitely should in order to maximize exposure), the payouts are tiny compared to what you might have received when fans bought CDs, records, and tapes. Other platforms pay more than Spotify (Napster, Tidal, Apple Music) and some pay less (Amazon, Pandora, YouTube). An increase to one cent per stream would - well, do the math. At this rate, a musician would need around 250 streams to earn just a dollar, or about 650,000 streams a month to make the equivalent of $15 an hour. That represents a significant increase from the current rate, which averages to around $0.004 per listen - that’s 0.4 cents or four-tenths of a penny. called Justice at Spotify, which is seeking to boost the minimum payout per stream to at least one cent. This is why there’s a new petition in the U.S. Unfortunately, little of it coming from streaming. And with touring completely cut off by the pandemic, creators need all the revenue they can find. The problem, however, is that little of this is trickling down to the artist. Add in Warner and you have the majors raking in more than $1 million per hour. Universal, the biggest of the three majors, is earning around $20 million a day from streaming. Just last week, Sony had to boost its annual music revenue forecast by $500 million because so many people are streaming music during the pandemic. And with labels deriving over 65 per cent of their revenues from streams, they love it.ĬOMMENTARY: (March 1, 2020) Music streaming has become a monster - and there’s no going back, Alan Cross says
The ability to frictionlessly access millions of songs from the whole of human history - the fabled “ celestial jukebox” predicted years ago - has been a reality for a generation.
It’s just too convenient for fans and too profitable for record labels to ever think of it going away.
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