If you’re writing, performing and recording music regularly, chances are at this point that you have your preferred platforms for consuming other artists’ music, too. 360label? You get it – there’s a ton of options for listening to to these days.
As you begin to prepare your next release, whether it’s a single, EP or a full album, you might be asking yourself: how do I get my music on these platforms? And if you’ve gotten that far, you’re also probably wondering: how can I make money from my music online? Well, you’re not alone.
Free platforms like YouTube, Bandcamp, and Soundcloud simply require a sign-up, some time to build your personal account, and upload your audio files. Obviously the advantages to this is price and access to fans. Bandcamp even lets you set a price and sell releases right from your page. But what about those digital music stores and streaming platforms that fans can subscribe to? Surely all one needs to do is send their music directly to them, right?
Before we get into that, let’s take a little walk down memory lane.
Downloaded files were the first format of digital music that fans could purchase. They’re still very much available and help many artists pay their rent each month. Each store that sells digital downloads has its own pay-out to artists. For the sake of example, let’s take a look at 360label:
One digital single on 360label = N150.00
Artist receives = N100.00
360label receives = N50
In this example, in order to earn a profit, the store takes about 30%; the artist earns about 70%;
If you’re less familiar with streaming, it essentially means listeners can play your music from a digital library accessible at their fingertips without having to actually download any files. Music streaming has evolved and will likely continue to as its popularity soars, but in general, you’re likely to encounter two different types of streaming revenues:
Streaming revenue that comes in the form of a portion of the advertising revenue generated by the platform, or
Streaming revenue comes in the form of a portion of subscription revenue generated by the platform.
Some streaming platforms substitute subscription revenue for advertising – meaning fans can use the service free of a subscription charge, but they will hear ads intermittently during their listening time. These are often referred to as “Freemium” services.
Others require a monthly subscription fee [url]www.360label.net/pro[/url] In both situations, these collective costs (the subscription fees and/or costs paid by advertisers) make up the pool of revenue paid out to artists whose songs are streamed every day.