Spotify is a popular music streaming service that allows users to listen to millions of songs and podcasts on their devices. The platform has over 345 million active users as of 2021, making it one of the most popular music streaming services in the world.
But did you know that you can also make money on Spotify? In this blog post, we will take a detailed look at the different ways that you can earn money on the platform, including through Spotify royalties, playlist curation, and music production.
3 Ways to Make Money on Spotify
Spotify Royalties
One of the primary ways that artists and musicians can make money on Spotify is through royalties. Whenever a user listens to a song on Spotify, the artist who created the song is entitled to a small royalty payment. These payments are collected by Spotify and distributed to the rights holders of the song, which can include the artist, record label, and music publisher.
The exact amount of the royalty payment depends on several factors, including the number of streams the song receives, the country where the song is played, and the type of subscription the user has (free or premium). On average, an artist can earn between $0.003 and $0.005 per stream on Spotify, which can add up to a significant amount over time.
To earn royalties on Spotify, artists and musicians must first sign up for a Spotify for Artists account. This account allows artists to track their royalty payments, view their listening data, and promote their music to Spotify users. It also allows artists to earn royalties on Spotify if they release their music on the platform.
Also read: How to make money from Audible
Playlist Curation
In addition to earning royalties on their own music, artists and musicians can also make money on Spotify through playlist curation. Playlists are curated collections of songs that are created by Spotify users and can be shared with other users. These playlists can be based on a specific genre, mood, or theme, and can help users discover new music.
Spotify pays playlist curators for their work, and the exact amount varies depending on the number of followers the playlist has and the engagement it receives. Playlist curators can earn between $3 and $5 per 1,000 streams on their playlist, which can add up to a significant amount of money over time.
To become a playlist curator on Spotify, you must first create a playlist and share it with other users. You can then apply to join the Spotify for Curators program, which allows you to earn money for your playlist and receive promotional support from Spotify.
Music Production
Another way to make money on Spotify is through music production. Many artists and musicians use digital audio workstations (DAWs) to create and produce their music, and there are many DAWs available on the market. Some of the most popular DAWs are Ableton Live, Logic Pro, and Pro Tools, which are used by professional musicians and producers to create high-quality music.
Spotify has partnerships with many DAWs and offers discounts and promotions to Spotify users who purchase these products. These partnerships allow Spotify to earn a small commission on every DAW that is sold through the platform, which is another source of revenue for the company.
As a musician or artist, you can make money on Spotify by creating and producing your own music using a DAW. By purchasing a DAW through Spotify, you can earn a small commission for the sale, which can help to offset the cost of the software and provide additional income for your music career.
Also read: How do Rappers make money with their RapsConclusion
In conclusion, there are many ways to make money on Spotify, including through royalties, playlist curation, and music production. Whether you are an artist or musician looking to earn income from your music, or a music lover looking to earn money from your playlist curation skills, there are opportunities to make money on Spotify. By signing up for a Spotify for Artists or Spotify for Curators account, and using the platform to promote your music and playlists, you can earn money from your passion for music and help to support your career in the music industry.
