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.
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.
