Musicians struggling to earn on streaming platforms
Musicians, including pop stars with millions of listeners, face challenges in earning a significant income from streaming services like Spotify. Singer Lily Allen, who has around 7.5 million monthly listeners, exemplifies this struggle. Even with such a large audience, the amount paid per stream—between £0.002 and £0.004—results in minimal earnings. This limited financial return highlights a growing concern among artists over the compensation model provided by music streaming services.
Comparison of earnings
Lily Allen’s experience sheds light on a broader industry issue. Despite her substantial listener base on Spotify, she discovered that selling pictures on a different platform, OnlyFans, proved more lucrative. By charging £10 per month and attracting 1,000 subscribers, her earnings from this venture considerably surpassed her streaming revenue. This comparison underscores the disparity between potential earnings through traditional music streaming and alternative digital content monetization.
Exploring better platforms for artists
Considering the challenges posed by current streaming models, many artists are exploring other platforms than their music for sustainable income. They are looking into other streaming platforms instead of Spotify.
In Lily Allen’s case – OnlyFans offers her a unique revenue stream by allowing her to set her own subscription prices. Since OnlyFans inception, the platform has distributed over £16 billion to its creators, demonstrating its potential as a viable income source. You can argue that feet or nudes are not comparable in this case, but it speaks to the seriousness of the challenges the industry faces at the moment.
Seeking alternative solutions
The current scenario indicates a pressing need for alternative solutions where musicians can flourish financially. New platforms such as Soundmade and innovative approaches could address this gap, offering artists better opportunities to earn from their talent and fanbase instead of their feet. As the industry evolves, it will be crucial for streaming services to reassess their compensation structures to support artists more effectively, and Soundmade is exactly that. It has the potential to create a more balanced ecosystem where musicians receive fair compensation for their work.
