Its success materialized with the celebration of the first edition of the Spotify Awards on March 5, making it clear the great importance that this service had.
A huge number of artists have joined this platform, helping it to offer its users more than 50 million songs to listen to in any of its modes (free and premium) in more than 70 countries around the world.
Way to pay
Not only the musicians have joined this community. Spotify, within its platform, offers also a variety of podcasts and songs that you can download, allowing other artists to be heard through podcasts, with a great variety of their content.
Entertainment, sports, the world of news, curiosities, history, among the aunt other what's this which you can find on Spotify.
This platform comes as one great opportunity to make yourself known and generate some money.
Not all beginnings are easy. At the beginning Spotify has had controversy with some artists over their payment method, receiving criticism from artists such as Thom Yorke (Radiohead vocalist) and Taylor Swift, who had removed their content from the platform's libraries, returning in 2017.
How Much Can I Earn?
If you are an artist or have a podcast project that you think may have a screening on this platform, it will be useful for you know how much money you could earn.
According to Goldman Sachs (investment and securities banking group, one of the largest in the world), for every euro that users pay to the platform, artists earn up to 12,3%.
Now, not only can you deposit money through Spotify by virtue of the number of users who subscribe to the services of this platform with a Premium package, since it also establishes a payment via streaming, i.e. for reproduction. And this is where the really fierce competition comes from.
How much does each reproduction monetize?
- In this sense, Spotify establishes an average payment per stream of $ 0,00437, requiring a total of 229 reproductions to earn $ 1.
- Compared to its competitors: Deezer requires 156 views to generate $ 1
- In Google Play Music, however, about 147 plays in total are needed to generate the same amount of money
- On the other hand, if you are looking to enter the world of Apple Music, you should know that you need 136 plays.
- There are other platforms, perhaps less known, but more accessible, like in Tidal, only 80 reproductions are enough in total.
- Whereas in Nepster, the minimum of plays for $ is 53 plays.
Despite the numbers, Spotify continues to be the preferred platform for users, surpassing alternative applications for listening to music. Being Spotify the most important and this proved that it still has a lot of projection.
Just a few years ago, being an artist addicted to this platform was no easy task. In terms of personnel, infrastructure and marketing expenses, they left the platform in the red.
However, since 2018, the strategies have changed, resulting in that, in the last quarter of that year, Spotify made a total of $ 1,5 billion.
The implementation that helped Spotify grow, undoubtedly, are stand and podcast. Not seeing the need or obligation of having to distribute royalties among song rights holders and artists, podcasts generate the same revenue, but don't account for the same royalty expense, helping to make ends meet.
Spotify was the beginning of many artists, it gave them the opportunity to make themselves known and grow in their passion. Not all beginnings are easy, but once you see yourself on the platform, it will be worth it.
Also, if you are interested in knowing what the Spotify Premium subscription offers you, you can do it from here.