Keating sold 33,000 singles, 8,600 albums, and 2.8 million streams for total 2013 sales of about $82,000 (Image Credit: ) Hence, artists still rely on the significant revenue generated through concerts to sustain a livelihood, with fans paying to see the artists live and buying their merchandise. A survey undertaken by Business Insider on cellist Zoe Keating’s earnings in 2013, reveals that her tracks were streamed 2.8 million times but received a paltry USD6,301 from them. Streaming services like Pandora and Spotify have the least payouts. In fact, the first half of 2014 has seen an increase in music streaming by an astounding 42%, reports iDownloadBlog.Īt 99 cents a track on iTunes, after the digital stores and record labels take their cut, artists are usually left with pennies for their work. These services allow users to stream tracks to their desktop or mobile devices for USD9.99 a month, the cost of which is less than that of an album in iTunes. It’s no secret that music downloads have been declining in recent years with the rise in popularity of streaming services like Pandora and Spotify. This is definitely no easy feat when free-to-access music is readily available from illegal download piracy sites to plugins that allows you to rip the tracks off music videos on websites like YouTube and Vimeo into mp3 formats. U2 on the cover of TIME’s September 29, International edition (Image Credit: Time Magazine) Though details are still sketchy at this point, U2 and Apple disclosed to Time Magazine that they’ve been working on a new Digital format that would spur people to buy more music, hence boosting revenue for struggling artists.īono mentioned in a Time Magazine interview that this new digital music format will prove so irresistibly exciting to music fans, it will tempt them into buying music – whole albums as well as individual tracks – once again.
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