12/12/2021
The business of streaming
[Reading time: 50 secondil
Currently music streaming is one of the main sources of livelihood for musicians. But how much do they actually get paid?
There are multiple factors that affect the amount of money paid to artists, such as the country of the listener, the type of subscription, the type of subscription, the royalty rate of the specific artist specific and the price and currency of the various states.
According to an aggregate ranking compiled by Statista, Apple Music is the platform that guarantees the highest payments highest payments in proportion to the number of listenings, $1 for every 100 plays.
French streaming service Deezer is in second place with about 185 plays needed to get to $1,
while Amazon is third, with about $1 for every 200 plays.
Spotify is only fourth on the list with 312 listens to earn $1. Although this value is only slightly below average, the Swedish service boasts
nearly three times as many paying subscribers as its main competitors.
Although the payment mechanisms and models payment mechanisms and models still need improvement, music streaming has certainly streaming has certainly become the most important source of revenue in the industry.
In 2020, approximately 62.1% of total revenue came from streaming streaming services, while purchases of physical records and digital downloads accounted for 19.1 percent, respectively.
In 2019, the size of the global streaming market music was valued at $12.8 billion and is estimated to reach $24.7 billion by 2027 with an annual rate of growth rate of +9.8% from 2021 to 2027.
How is the music market impacted by the streaming business?