You won’t believe how much money musicians make on Spotify
Years ago, many artists were skeptical about making the transition from analog to digital music. Nobody was sure how anyone could make a profit from downloads, and particular attention was paid to the threat of music piracy.
But jump ahead to 2020 and you’ll see that not only is digital music thriving, it’s effectively replaced physical media in much of the world. Tap or click to see which streaming music service is right for your device.
On platforms like Spotify, millions of users stream their favorite tunes from artists around the world. But have you ever wondered how much money you can make from a streaming platform? As it turns out, the numbers are massive!
Streaming music: A lucrative opportunity
At first glance, streaming platforms don’t look like they’d be profitable. For a flat monthly fee, users get unlimited access to as many songs and plays as they’d like. Plus, the platforms have to actually pay the artists to feature them.
But look closely and you’ll see a cleverly structured business model based on the number of times a song is played, as well as the number of subscriptions rolling in each month. Tap or click to find out what subscriptions are worth paying for.
How much do artists really make on Spotify and other streaming services?
According to research from OnBuy.com, artists on Spotify are earning a sizable chunk of change so far in 2020. They looked at the number of times newly released songs were listened to on the platform and calculated how much artists have earned based on the totals.
Spotify pays artists approximately $0.0032 per stream, which equates to approximately 1 cent per 3 plays. This may not sound like much, but when you have millions of listeners tuning in, it ads up fast.
These are currently the top charting songs on Spotify, as well as the artists behind them and the amount they’ve earned from streaming.
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