Many people consider music to be a vital part of everyday living. However, many people still believe that music should be free. That is why they would rather download music instead of buy it.
Spotify and many other websites have created a happy medium. They allow people to listen to music for little or no cost while the artist still gets paid. However, if an artist does not get millions of views per month, then it can be hard for them to make enough money to sustain themselves.
Artists who do not have a record deal are able to make more money by streaming their music. However, independent artists have to work a lot harder. They have to market, distribute and release their own music. This process is a lot easier than it was in the past thanks to technology, but the industry is also competitive.
According to ccn.com, Spotify, which is one of the most popular music websites, has 200 monthly users. Nearly half of these users have Spotify premium. The demand for streaming services is increasing because fewer people are buying CDs.
Taylor Swift has spoken out against the negative practices of online streaming services. She removed her music from Spotify in 2014. She put it back on Spotify in 2017.
Artists are paid $0.00397 every time that their song is streamed. This means that their song would have to be streamed 352,644 per week to make $1,400. Additionally, 70 percent of the artist’s profit goes to record labels.
The good news is that there are crypto projects that will help artists get more money for their music. Many cryptocurrency projects are working towards copyright databases and decentralized royalties. They will allow an artist to get paid as soon as a song gets played. They will also pay up to 85 percent of the royalties to the musician.
