If you’re a DIY musician making great music that you want to be discovered by new fans, what’s the best way to do it?
Spotify is the go-to place for music lovers to hear new music, so it makes sense to promote your music there.
However one big question hangs in the air… can you really make money from your music being streamed on Spotify?
You can only continue to make music if you have the capital to fund future releases and as a DIY artist making a living from making music, income should be high up on your to-do list.
So should promoting your music on Spotify be a priority in 2023?
The good news is Spotify’s statistics for 2022 have just been released!
And the answer to that question lies in the numbers.
It’s a resounding YES!
But don’t just take my word for it… Let’s take a deeper dive into the numbers…
Spotify numbers in 2022
(The left hand side of the graph shows the number of artists, while the bottom illustrates the $USD paid out to the artists in 2022).
The exciting numbers in the results lay in the payouts in the $10k+ to $100k+ range.
57,000 artists made over $10k in streaming on Spotify alone.
There were 17,800 artist who made over $50k.
And there were over 10,000 artists who made over $100k solely from fans streaming their music on Spotify.
Spotify releasing these numbers is a truly great thing.
It means that we can get transparent about what Spotify really paid to artists in 2022 and what is possible for you going forward.
“Streaming doesn’t pay!” – Actually it does!
I hear people say, “Streaming doesn’t pay!” With numbers like those above, it’s clear that it does!
But there is a caveat attached to everything and this instance is no different.
Streaming does pay artists… but you need a clear strategy on how to get your music heard for it to work for you.
Remember, these figures are only the numbers for Spotify alone.
It is the largest streaming site BUT Apple Music, Tidal, Deezer, etc., also have vast numbers of daily streams, impacting musicians’ take-home pay.
So the next question is… how do you get to be one of the artists in the high-end section of streams?
We’ll come to that soon… But first, i’m not done looking at the facts…
Spotify Artists Payout Statistics
Spotify paid over $8 billion to artists in 2022 alone.
This is more than any other streaming service, and it is what makes them king of the streaming world. Furthermore…
- In 2022 Spotify broke the world record for the most significant yearly payout from any retail business in history.
- Over 1000 artists earned over $1 million through Spotify’s royalties in 2022.
- Over 50,000 artists generated $10,000.
- Major record labels earned over $4 billion in profit
Spotify Overall Statistics
Next, let’s look at some overall Spotify facts to help you begin planning your release strategy on Spotify.
And if you look at Spotify’s growth, it is still growing year on year…
So I’m here to dispel the myth that streaming doesn’t pay… It does!
Whether you like it or not… Spotify is the biggest platform in the streaming world.
And if you want to make money from your music on the service, you need an action plan.
As a DIY musician, you must find strategies to ensure you are one of the artists in that $50k+ bracket.
In a few days (via email), I’m going to tell you a strategy that will set you on the path to getting there.
I can not wait to share it with you!