The music industry world over moved to digital sales of music. Each and every day platforms come up and others innovate further. SoundCloud has come out with probably a better way to pay Artistes.
SoundCloud is working on a user centric payout system for artistes and fans will directly pay who they listen to. The system looks at paying artistes basing on what the fan listens to as compared to the pro-rata system already in place on most streaming systems like Spotify.
According to SoundCloud CEO
“SoundCloud is uniquely positioned to offer this transformative new model due to the powerful connection between artists and fans that takes place on our platform.”
SoundCloud is one streaming service that most independent Artistes rely on to promote themselves. Fans can access a number of projects released on the Swedish found company. Since SC is easily a streaming service that most independent artists go to and this likely a move to boost independent artistes to earn more.
The “Fan powered” system will for now be tested on 100,000 indie artists. Soundcloud works as an aggregator via it’s @repostnetwork which means it still offers pro-rata based payments.
“With fan-powered royalties, money made from listeners goes directly to the artists they listen to. This equitable payout model is what independent artists across the industry have been asking for, …
and as an artist-first platform, we’re excited to be the first music company to roll it out.
Independent artists who monetize directly with SoundCloud will benefit from fan-powered royalties beginning April 1, 2021.” – via SC.
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