All digital music consumers will have come across one of the biggest, if not the biggest, subscription streaming service for music, which is Spotify. Spotify is exceptionally good at allowing any artists to publish their music in front of their fans and also other subscribers to Spotify who may want to listen to their music. What all artists, who are featured on Spotify, want to know is how do you increase your revenue through Spotify? What new strategies can be used in order to make money on this streaming app?
According to recent studies, Spotify pays artists up to $0.0054 per stream, which means it is incredibly hard to make any sort of living off Spotify, as you would need around 250 streams just to make $1. In this article we will look into different ways to make money on Spotify and whether it is a viable option for you, as an artist.
You can’t make money on Spotify without actually understanding how to be paid. Spotify has a royalties scheme in order for music publishers to be paid and to also pay their writers.
The first form of income is master rights. What this is, is money that you receive from your songs being streamed by consumers on the Spotify app. As we mentioned earlier, Spotify doesn’t offer much money per stream and to make any sort of decent money from it, you will need an incredibly large amount of streams from your audience.
Spotify also has mechanical royalties, which is where they pay writers every time their music is streamed. These payments are not made to the songwriters specifically, but instead a publishing administrator. It is then up to the songwriter to receive the funds from the administrators.
How to Increase Streams
As we mentioned earlier, in order to receive a satisfactory amount of money from Spotify, you will need a huge number of streams. There are different methods you can use in order to increase the amount of streams your music has. Here are some possible options.
You have the option to pay for your song promotions, this includes social media ads and Spotify’s audio ads. This will make sure that your music is reaching new people that have similar interests to your genre. You will also be able to see the analytics of the ads to make sure your songs are reaching your target audience. You can also purchase Spotify plays and followers from a reputable company like Buy Social Today.
One way you can increase the number of streams your songs get is by sharing your music on different social media platforms. Not only is this a great way to increase engagement, it’s also free to do! Platforms such as Twitter, Facebook, Instagram, LinkedIn, Whatsapp, etc are all great platforms to reach thousands of new listeners.
Apply For Curated Playlists
Spotify allows you to pitch your songs to their curated playlists. Getting into round-up playlists is a great way to attract new listeners.
It seems there are different avenues you can go down in order to make your music make you money. There are more features available on the Spotify app to try and get more streams. Spotify seems to not want to pay artists much as all for streaming, so the only way to make money on Spotify would be to find ways to market your music to get a considerable amount of streams.