Making the Most out of your Music on Spotify
After months of recording, you finally released the album you’ve put so much effort and money into. The CD is in stores or being sold to a few fans after gigs, but you’re starting to become curious about streaming services. If you’ve decided to give these a shot, you should know Spotify is one of the most popular streaming services in the world, and may potentially start earning you money.
Why Join This Streaming Service?
With over 75 million subscribers — of which 20 million are Premium users — Spotify has the clear lead in the music streaming game. Founded in 2006, Spotify aims to drive music listeners toward paying for the songs they listen to, rather than pirating them through P2P software or other illegal methods. They claim to have paid the whopping amount of $2 billion in royalties since their inception.
If you’re ready to get your slice of the pie, it’s time to upload your catalog to this platform. If you’re affiliated with a label or distributor, they can handle the process for you. However, you can take matters into your own hands as an independent artist. Keep reading for an explanation of how to get started.
How to Set Up your Account?
The first step is to make your music available online for purchase through a Spotify-accepted “aggregator” site like CDBaby, Tunecore, Record Union, or EMU Bands. Independent labels can also forge a Spotify relationship through label aggregators like Fuga, Ingrooves or Finetunes. Services like these usually charge a fee or percentage from the royalties.
Once this is taken care of, you need to set up a regular Spotify account with your name or the band’s name and get to 250 followers in order to be eligible for verification. Once this process is complete, you’ll need to give Spotify an updated artist image through a service called Rovi. Simply create a profile, upload a high resolution image (2048 x 2048), and provide Spotify with your Rovi ID. After that, you’re all set to start sharing your music with the world.
How Much Do Musicians Get Paid?
Spotify’s commission from its revenue is 30%. The other 70% is paid to rights holders, such as labels, publishers, distributors, and independent artists, through the services we mentioned above.
The figure that artists receive can vary depending on factors like:
- The country of streaming.
- The number of current paid users vs. free users.
- The artist’s royalty rate.
That being said, the average price per song played has been estimated to be between $0.006 and $0.0084. Although these figures may seem pretty low, with a potential audience of 75 million people, the market exposure alone is worth the venture.
Tips for Promoting your Spotify Profile
Now that you’ve set up your music for the world to hear, there are a few strategies you can put in place to draw more fans toward your music.
Use Targeted Facebook Ads
Investing a few dollars can go a long way with Facebook Ads. Directly target your desired demographic with a link that goes straight to your Spotify profile. You can fine-tune the strategy even more by only addressing Facebook users who have a Spotify account.
Partner with other Artists for Mixed Playlists
Strike a deal with your colleagues on Spotify for a cross-promotional opportunity. Playlists are a great space for exposure, so get three or four of your allied artists or bands to release playlists that feature your music. By doing the same with their tracks, you’re creating a win-win situation for everyone.
Use Spotify’s Play Button
A simple piece of HTML can add plenty of streams to your profile. Embed the code for the Play button on your website so any visitors can listen to your latest single without even having to leave the site.
Invite your Fans to Join
Any other online platform or social media profile you have can be used to steer fans toward Spotify, get people to follow your profile (if they’re registered), and keep that stream count on the rise.
While these tips can help point you in the right direction, professional advice is still your best option when tackling complex issues like distribution, promotion, and royalties. Get in touch with Planetary Group to find out how you can boost your online presence and increase your fan base. You can give us a call in L.A. at (323) 952-5050, or in Boston at (617) 517-4193.