Musings By, Wendy Day
I’ve recently read two things that I feel are important enough to share:
Soundcloud has approximately 175 million active monthly users subscribed. To put that into perspective, the three largest streaming sites Spotify, Apple, and Tidal have around 116 million free and paid subscribers (Spotify claimed to have 100 million subscribers, of which 30 million were paid monthly subscribers, as of March 2016; Apple claims to have 13 million paid subscribers as of April 2016; Tidal has 3 million subscribers as of March 2016). So, new artists, tighten up your Soundcloud game!! There’s no pay for Soundcloud, but you can’t argue its importance. It has more people going there for music than Spotify, Apple Music, and Tidal combined. Hey, did the Apple/Tidal talks break off because Soundcloud hit the market for $1 billion? Hmmm, doesn’t Apple have that kind of money to spend? 😂😂😂
I keep hearing the complaints that streaming music isn’t making enough money for the labels or artists. Sony just released their sales figures from the 2nd Quarter. The largest portion of their income was on demand streaming music for the first time. According to Music Business Worldwide, Sony’s income last Quarter (ended 6/30/16) was $25 million a week. That’s per week, folks. And that total doesn’t even include Adele as she was just added to the streaming sites on June 24 (that income won’t be included until the beginning of July). Wow! That’s some sizable income from streaming…wonder how much of that went to Sony artists. [Update: Sony’s streaming figures include income from YouTube.]
It appears that while Sony is making roughly $3.3 million a day, Warner is earning $2 million each day, and UMG $4 mil a day. This means the majors are now making a combined total of almost $10 million every day just on streaming.