Its success was materialized with the celebration of the first edition of the Spotify Awards on March 5, making clear the great importance that this service has had.
A huge number of artists have joined this platform, helping it to offer its users more than 50 million songs to enjoy in any of its modalities (Free and Premium) in more than 70 countries around the world.
Way to pay
Not only musicians have joined this community. Spotify, within its platform, also offers a variety of podcasts and songs that you can download, making it possible for other artists to be heard through podcasts, having a great variety of their content.
Entertainment, sports, the world of news, curiosities, history, among many other things you can find on Spotify.
This platform is presented as a great opportunity to make yourself known and generate some money.
Not every beginning is easy. In the beginning, Spotify had controversies with some artists due to 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 to it in 2017 .
How much can I earn?
If you are an artist or have a podcast project that you think could have a projection on this platform, it will be useful to know how much money you could earn.
According to Goldman Sachs (an 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, you can not only deposit money through Spotify by virtue of the number of users who join the services of this platform with a Premium package, since it also establishes a payment by streaming, that is, by reproduction. And that’s where the really fierce competition comes from.
How much does each reproduction monetize?
- In this sense, Spotify establishes an average payment per streaming of $ 0.00437, needing a total of 229 reproductions to earn $ 1.
- Compared to its competitors: Deezer requires 156 views to generate $ 1
- In Google Play Music, on the other hand, you need approximately a total of 147 reproductions 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 reproductions.
- There are other platforms, perhaps less known, but more accessible, such as in Tidal, you only need a total of 80 reproductions.
- Whereas at 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 that has shown that it still has a lot of projection.
Just a few years ago, being an artist dependent on this platform was not an easy task. Among the personnel, infrastructure and marketing expenses, they left the platform in the red.
However, since 2018, the strategies changed, achieving that, in the last quarter of that year, Spotify made a total of $ 1.5 billion.
The implementation that helped Spotify grow, without a doubt, was podcasts. By not seeing the need or obligation to distribute royalties between song rights owners and artists, podscasts generate the same income, but do not represent the same royalty expense, helping to balance their accounts.
Spotify has been the beginning of many artists, it has given them the opportunity to make themselves known and grow in their passion. Not every beginning is 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 so from here.