Connect with us

Hi,what are you looking for?

It's Just Business

Major Labels Rake In About $1 Million Per Hour From Streaming

So there IS money in streaming, just not for you.

It's no secret that streaming services pay bands a fraction of a penny per stream. Though if you're a major label, you're doing pretty alright with the services.

Advertisement. Scroll to continue reading.

According to a report from Music Business Worldwide, major labels make about $1 million per hour from streaming. Consequence of Sound further points out that Vivendi, Sony Corp, and Warner Music Group makes about $22.9 million per day from the services, resulting in the $1 million figure above. To put that in perspective, that's roughly $277.77 per second.

To add another dimension to the story and make sure we're clear that streaming can be a viable source of income, look no further than the Q4 profits in 2019 for major labels. Music Business Worldwide reports that Universal rakes in $1.02 billion during the quarter, while Sony gained $669 million and Warner got $589 million. So yeah – the money is going somewhere, just not to artists.

Read the full report here.

You May Also Like

It's Just Business

It may have been an attack on those using third-party advertisers.

Record Sales

December was a slight improvement in Spotify listenership, with an average increase of 1.81% across this list. Some bands saw quite the bump, while...

Around the Interwebs

One of the unique things about Spotify as a platform over other music services is their open API allowing programmers to build fun little...

It's Just Business

You may have noticed that artists began circulating their "Spotify Wrapped" promotional materials, where they proudly displayed how many listeners they had this year...