Can you actually make a living from uploading music online? Technically yes… but actually…
Spotify, the platform used by170 million people, has opened up its direct monetization program. Millions of listeners flock to Spotify to enjoy music that is advertising-supported and subscription-based. In the United States alone, people listened to an average of 32 hours of music per week in 2017, showing that the market is big enough for artists of every genre. Just like Youtubers, Spotify artists can earn a certain amount through advertising.
How much can you expect?
According to CNBC, artists can expect to earn between $0.006 to $0.0084 per stream to the holder of music rights. However, according to some data from Information is Beautiful, it puts that number even lower at $0.00437 per play. So doing the math, 1000 streams would translate to roughly $4.37. This was one of the lowest amounts paid by companies.
Of course, this is nowhere near as low as what YouTube gives content creators at $0.00069 per view. (However, these numbers are estimations, because a lot depends on context, niche, and how much advertisers are willing to bid.)
Spotify’s royalty payouts have had a lot of bad press from some major artists like Taylor Swift who pulled out some of her songs. However, streaming services can be lucrative (and seem fairer) when the artist owns the publishing and songwriting rights. Spotify pays out 70% of its revenues to rights holders.
If you self-release your music through a platform like CD Baby, you can retain a larger slice of the pie than if you sign the track to a label. Sometimes releasing with a label can be the best option due to their market reach and leverage with streaming sites. You’ll need to decide what is best for you. However, Spotify’s payout might be insufficient if you are new or have a small channel. Therefore I would suggest artists, podcasters, and composers use software platforms like Buzzsprout which allows you to upload, host, and promote your content. They also offer a $20 Amazon Gift Card if you decide to sign up to their paid plans, which you can receive after the second paid invoice.
And of course, let’s not forget the biggest source of online entertainment with 1.8 billion users, Youtube. Lastly, one of the best ways to promote yourself, your brand, band, or podcast is building your own website with your chosen domain name. This way, your audience and internet browsers can find you and get to know more about you through your website. That is why I’d recommend using Bluehost, to start a website in about 15 minutes.There are plenty of other platforms and ways to monetize your voice. But at the end of the day, it all comes down to marketing yourself, which is why it’s so important to have your own website. At the end of the day, whatever you do, do it with a passion! 🙂
How To Get Your Music or Podcast On Spotify’s Playlist and generate revenue?
If you’re confident that your songs are well written, then you can start pitching your music to get featured on a Spotify playlist. The subscription is actually pretty simple:
- Firstly, get a verified profile on Spotify. Find out more on: Spotifyartist.
- Come up with a new, catchy melody that will stick in people’s heads and start uploading them or an attention-grabbing topic for a podcast. (I know, easier said than done)
- In order to grow your channel, try and send your tracks to other popular music blogs too. Not only is it more exposure if they like your content but you might also get in touch with more curators.
- Create a personal website to brand yourself. This way people can find you on Google, Yahoo, Bing etc.
- Through your website, you can send emails to reach people, grow your fan mailing list, build your brand, or the name of your name as a musician so that people can find you in search engines like Google. This will probably turn out to be more fruitful than focusing on social media.