Music sharing sites have transformed the industry in many ways—for better or worse. There’s no single best streaming service for artists, as they all have their own unique benefits and drawbacks depending on a number of factors, such as your style of music, the audience you’re trying to reach, and your short and long-term career goals. That said, there are some pros and cons that apply to streaming platforms in general. Let’s take a look at them.
Pro: Reach a Much Larger Audience
These platforms have given unknown artists a way to reach a massive audience, a feat that would have been impossible in the pre-internet era. Countless bedroom artists have gained overnight fame simply by posting a track that went viral. Additionally, it’s easier to tell someone to check your music out online than it is to get them to buy an album, making music sharing sites a powerful-yet-accessible tool for promotion.
The problem with using even the best streaming service for artists is that any and everyone can also use it. The platforms are saturated with countless users, so standing out as a diamond in the rough is no easy feat. While it’s certainly nice that anyone can post their music, the simple truth is that having so many options often causes artists who deserve recognition to be overshadowed by the sheer magnitude of users.
Pro: Earn Money for Your Work
Before these platforms existed, it was very difficult for indie artists to earn a viable income. While that’s still true in most cases, music sharing sites have made it possible for artists with even a small fanbase to get paid for their music and merchandise. Platforms like Bandcamp have integrated tools that allow you to turn your page into an online store. Even some mainstream artists use Bandcamp to sell their music, including Bjork and Radiohead.
Con: Often the Majority of Profits Goes to the Platform
While many artists do enjoy being able to earn money through music streaming platforms, the pay is still less than ideal. For example, on Spotify, artists only earn between $.003 and $.005 per stream, or approximately one dollar per 250 streams. Many music sharing sites don’t pay enough for artists to earn a liveable wage unless they’re getting 1 million+ streams every month. And, even the best streaming service for artists is still going to take a cut.
Sign Up for a Music Business Class Today
Streaming platforms aren’t going anywhere anytime soon, so it’s crucial that you learn how to use them effectively. Taking a music business class is the best way to ensure that you’re approaching every aspect of your career with confidence. 1500 Sound Academy offers a variety of world-class music courses for artists who are ready to make big moves. Understanding the ins and outs of music sharing sites is just one way to gain a competitive advantage. Enroll now to learn the skills necessary to get attention on streaming platforms and unlock your full potential.
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