When you look at music as a business, most people think of selling their songs or streaming on sites like Spotify. But there’s a lot more to it when you include all the other ways musical works are “distributed.” There are many platforms out there that allow artists to get their music heard. Artist Republik, DistroKid, Tunecore & plenty others offer distribution services. These services enable independent artists to put their music on some of the most popular streaming services globally, from Spotify to Apple Music & everything in between. If you’ve been in any part of the music industry in recent years, you probably know someone that has distributed a song. Does that beg the question: how many new songs are uploaded each day? Let’s look at the streaming statistics.
Short Answer: It’s a Lot
According to Spotify, more than 60,000 new tracks are being brought onto its platform every single day. That means that there is a new track about every 1.4 seconds! Only two years ago, Spotify was reportedly ingesting 40,000 new songs a day. That means within two years, the company increased its song ingestion by 50%!
If Spotify is netting those big numbers, the other streaming services are likely doing around the same. Most of the time, when an artist uploads a song for distribution, they check all of the boxes for every other streaming service. That must mean that people are making bank.
The Numbers Behind the Streaming Statistics
Spotify reports that in 2021 there are about 8 million artists on the platform. Of those 8 million artists, about 57,000 are raking in a whopping 90% of the total revenue from streams. That means that .71% of the artists on Spotify are making good money. In 2020, there was a total of around $5 billion paid out to artists on the Spotify platform alone.
Going even further, in the last four years, only about 800 artists have made more than $1 million per year. Seven thousand five hundred artists earned more than $100,000! So that means that only about 8,300 artists worldwide are making more than six figures from Spotify’s streams alone. How about them streaming statistics?
Is Streaming Worth It?
In a world where music streaming has become popularized for musicians, is making money solely off of streaming worth your time? For the majority, probably not. In fact, for most independent artists, streaming is just one small slice of the revenue pie. These days, it’s almost impossible for artists to make a significant amount of revenue just off of their music. But then again, the world never really worked that way in the first place.
In most cases throughout history, artists made money in a multitude of ways. From merch sales to selling out tours, the big bucks come from a lot of small places. So don’t get too hung up on those streaming statistics. To make a living off of your music career, you have to be willing to diversify your income. The music is just the vehicle to get you there.
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