Sony Music’s near $1 billion quarter.
If there is anything you can learn from Sony Music; it is that streaming revenue is king. Sony’s music operations have posted some serious numbers and incredible growth – just this past quarter. We are talking growth of nearly $1 billion dollars, not bad, right? Unfortunately, let’s be honest with ourselves, very few companies have the catalog of work that Sony is able to boast. However, it seems like looking at Sony Music’s growth can shed light on a few examples. Independent artists can use digital music distribution and streaming to grow their brand and income.
Let’s start with the basics. We know that a lot of main stream artists are releasing musically digitally these days. Platforms like Spotify, Apple Music, Tidal, and YouTube. For those who are unaware on how to get your music on these platforms, take a moment to get familiar with Digital Music Distribution. Taking a look at the basic numbers for these platforms can really give you an idea of how many listeners your music can actually reach. YouTube, 1.5 billion monthly users; Spotify, 40 million active users; Apple Music, 30 million; and Tidal, with a rather modest 2 million. It becomes clear why it is ideal to push your music digitally opposed to the physical route.
Beyond the Basics of Digital Music Distribution
Beyond the basics and catalog, Sony’s streaming booms can be credited to publishing, soundtracks, music featured in games, apps, and also commercial usage. That is where you will find money as a musician and publisher beyond Digital Music Distribution. Finding the right suitor for your music might not be the easiest task but there are plenty of opportunities available out there. Pardon the cliche, but Rome wasn’t built in a day and you shouldn’t expect to wake up tomorrow as a billionaire. Spend some time on social media. Network with film makers and game & app developers. Finally, use those connections to place your music within their projects. Be sure that your publishing is available to those you work with and keep building.
Get That Money!
In conclusion, declining sales from downloads and physical digital music distribution show we know that streaming is the new king of the industry. Be creative in your efforts to distribute your music digitally. Then collect the royalties because that is what you and your music deserve.