Spotify is one of the best platforms for artists to make money. This article takes you through how artists can make money on Spotify.
This is the time and age of online streaming services such as Spotify rather than record labels. What it also means is that the artists are likely to earn more with no middleman in between as was the case with record labels.
It’s worth highlighting here that Spotify pays you whenever your song gets played enough number of times on the platform to reach a payout.
How To Make Money On Spotify
In order to make money from Spotify you need to get more streams from your listeners. Every time your music or song is heard for 30 seconds, you become eligible to be paid. If, however, the stream is less than 30 seconds, it is not considered eligible for payment.
Try To Focus on High-Income Countries
In order to earn more from Spotify, it is important that you focus on getting listeners from high-income countries with US and UK being on top of the list. This is why, you must try to market your music in such countries rather than promoting your music in countries like India, etc.
Thus, it is worth trying that Spotify places your music in playlists that are highly played in countries like the US and UK.
I must mention here that Spotify uses an algorithm to put various kinds of music or songs into their playlists. Thus, it is not possible for you to contact someone or request him/her to place your music there. However, what you can do is adjust your music so that the algorithm picks up it to be played in such countries.
One of the best ways to do so is by having short intros into your songs rather than long ones as the playlist algorithm is less likely to pick songs with long intros.
This actually makes a lot of sense too. This is because as quickly as your song gets into the lyrics, the more likely the listener is going to keep on listening to the song. What you need to understand is that if your listeners get bored of the long intro, it is quite possible that they might turn off your song and opt for another one before they get to the 30 seconds mark.
Ensure the High Quality of Your Music
One of the most obvious requirements for people to listen to your music for more than 30 seconds is that it should be of high quality.
What you need to understand is that the quality of your music must be good and very good that matches the quality of the top performing artists otherwise the majority of listeners with switch off before 30 seconds are up and in that case, you will lose out on possible earnings.
But this is not all!
The Spotify algorithm is likely to pick up quality music and it further going to prioritize top-quality music. What it means is that if your music is good then Spotify will most probably include it in its playlists. The underlying fact here is that the more playlists you are included in, the higher the number of streams.
Collaborate with an Established Music Company
When on Spotify, your best bet for earning good money is established distribution companies. Now, by established companies, I mean those that have the distinction o having more than 10, 000 artists under their belt. Yep! Not those that have worked with an odd 100 or 1,000 artists.
Such companies are known to be perfect in their craft in the sense that they know how to work their Spotify campaigns so as to get your music more organic streams resulting in a massive increase in your royalties. Such companies have their own Spotify campaign structure which you must give a careful look at before signing up so that you know if it would be beneficial for you or not.
Other Ways To Make Money On Spotify
Apart from streams, there are a couple of other ways through which you can make money on Spotify.
One of the best ways is through Tours and you can use Spotify Analytics to plan your tour. You see, Analytics gives you a detailed insight into what music people listen to. As such, you can simply leave out the music that everyone skips on their playlist. This might seem a simple thing to do but it can be a great way to include popular stuff in your tour and leave out the stuff that is not so popular. Thus, you can make sure that your list of songs includes the best-performing ones.
Apart from this, you can also use Spotify analytics to plan where you are going to visit on tour. It provides an insight as to in which cities people listen to your music the most. Thus, you can plan your concert or tour in such cities.
Not just this, Spotify also provides you the option of promoting your concert through it. This can help you sell a lot more tickets which obviously translates into better money and more profits. All that you are required to do is add your tour dates to Spotify and they will be shown to people while they listen to your music.
Yet another way to make money is by selling merchandise through Spotify when you sign up for MerchBar. In this way, you can actually sell directly to your listeners and does not require much effort from you.
Spotify is a great platform for budding and upcoming artists to showcase their talent as well as to earn money online. If you try some of the methods mentioned above, you should be able to make a reasonable amount of money from this platform.