Ok, we know they’re a major label. But if music streaming is bringing in more money, that’s good news for the independents as well
All we seem to hear recently is doom and gloom about the music industry and where it’s headed but this news about streaming is a good sign for all of us.
Of course, most independent artists probably don’t rely too much on revenue raised from music streaming as most of their income would come from live shows, direct sales via their website and merch but this news might mean that a little more focus should now be shifted to streaming.
Sony Corp Executive Deputy President and CFO Kenichiro Yoshida was pleased to report to investors recently that:
“We are seeing quite significant momentum in music streaming.”
“Because of that, we see signs that the decline of the music market is finally bottoming out due to the rise of streaming services such as Spotify and Apple Music after 15 years of decline.”
The chart below shows a breakdown of Sony’s Recorded Music income;
Physical leads the way as would be expected but that 24% chunk from music streaming looks really good.
So how do you increase your streaming revenue as an independent artist?
Well for starters you will want to get your music distributed to the major streaming services. Like Spotify, Apple Music and Tidal to name a few. Then, of course, some marketing would have to come in play. To let people know that your music is available on these service for streaming. Most music distribution services nowadays should deliver to all the big ones and more but be sure to check first before you spend any money.
This is where having your own mailing list could really boost your standing. A lot of the times, indie musicians don’t really know what kind of messages to send to their fans. It’s either they feel like most of what they do is mundane. Or their not comfortable having to keep asking fans to buy music.
Well, this gives you another reason to reach out to fans on your mailing list.
Just send them a link to one of your songs for them to listen to. You can even make it more interesting. By attaching it to something relevant. Like sending them a love song around Valentine’s Day….get creative with it.
Getting your songs out to radio stations, including online radio stations, will also definitely help in getting you more plays on the music streaming services. Most people will tend to look up songs they have heard on their favourite streaming service. Granted I think the default place to look would be Youtube in most cases but a lot of music fans actually do default to their favourite streaming service.
Also be sure to include reminders on all your promo material that your music is available for streaming.
Something as simple as adding buttons like the one above. To your flyers, posters, online banners, etc would really help in raising awareness. That your music is available for streaming.
We don’t think it’s the case yet that streaming will keep a roof over your head but it is definitely time to start looking at streaming as an integral part of your music income.