One of the most common questions musicians ask about Spotify is if they can really make money on it. Yes. You can. The only catch is that you have to know what Spotify is and how to properly use it.
Spotify Explained
Spotify is the most popular digital music and podcast streaming service in the world. It gives listeners a choice of thousands of songs, albums, and podcasts so they can listen to what they want to anytime they want.
With over 406 million active listeners and around 180 who subscribe to the premium paid service, Spotify marketing is a magnificent opportunity for musicians to make money on music.
Loud & Clear
Spotify is always pushing forward by helping musicians make money on its platform. Loud & Clear is a new available feature brought to you by Spotify. It was created to present information to artists in one location so they can learn about the streaming economy on a global basis, and it explains royalties too. It has a plethora of handy and helpful features such as interactive tools that make streaming numbers make sense to musicians.
Merch
Merch is a space on Spotify where musicians can sell their merchandise. It is a combined effort between Shopify and Spotify that has taken off like crazy because fans are wild about it.
Merch is a one-stop shopping spot where fans can purchase anything you wish to put on the site by way of photo, price, description, and a few other details. From t-shirts and caps to tumblers and stickers, Merch is an excellent avenue to rake in some serious cash.
Ticketing
Got tickets to sell for your upcoming virtual concert? Why not sell them on Spotify? Spotify is now allowing musicians to peddle their tickets through their services. Viewers can simply go to Spotify Live and select the livestream they wish to attend. Then by using the dropdown, with a click they can purchase a ticket to the associated event.
Musicians can easily follow the instructions given to put their livestream concerts or podcasts on Ticketing by adding a concert to your event page. See Spotify for full details or ask you Music Marketing Agent about it.
Fan Support
Spotify’s Fan Support link lets you highlight a destination for fundraising in addition to featuring music on your Artist’s Profile and on your Artist’s Pick segment. Fan Support allows you to offer support to your followers about many avenues such as GoFundMe, lyzico, Mercado Pago, PayPal.me, Givealittle, and CashApp.
It’s super simple to activate Fan Support on your end and very easy for your fans to use it too. To add a link, visit Spotify and check out Fan Support help center information.
Discover Weekly
Discover Weekly is a Spotify playlist that is a mix of songs – some of which you may know and others that you probably have never heard of. It’s great for exposure and is the perfect platform to get your new music out. It is update each Monday so the songs never remain the same for long. The genres change with the tracks without any specific pattern. Many fans swear Discover Weekly is able to magically just know what tunes they want to hear.
Future Opportunities
Spotify is a forward-thinking company that is constantly moving forward by implementing new and creative ideas and innovative ways for musicians to make money.
Spotify is not a 25+ Billion company. Being set on never settling to become stagnant is part of the reason it is so successful. There is a myriad of new opportunities in the mix for musicians.
Part of the reason why Spotify is upwardly mobile is because it keeps expanding. It already enjoys a worldwide present and is the largest streaming platform in the entire world. But that doesn’t stop its ambition to become bigger and better. Untapped markets keep Spotify searching for more – striving for continued growth around the globe.
Another strategy on Spotify’s list is a big expansion for the playlist offers. The plan is for Spotify to become more like radio is and less like a playlist collection. Exactly how this endeavor is expected to play out is anyone’s guess but you can be sure as a musician on Spotify, you’ll be among the first to know.
Spotify as the Real Deal
Do musicians really make money on Spotify? Yes. Do people really listen to Spotify? Absolutely. With a library of 35 million songs, the platform can be traced back to a man named Daniel Ek in 2006 in Sweden. Elk was a former CTO of Stardoll. The name Spotify originated by blending the words “spot” and “identify” together.
Listeners were introduced to Spotify. The company has taken over from there and made the music experience exactly what the listeners want and has always coveted the music artists too. It’s a mutual respect which is a big reason Spotify succeeded and continues to move forward. While other companies that tried to do the same or similar failed.
As Spotify takes strides forward, as a musician, you should too – in your marketing and in your music. Otherwise, you’ll miss out on new opportunities that await you and that would be a shame.
How it All Pans Out
When a platform like Spotify is on your side, you really can’t go wrong as long as you stay on top of what is being offered. It’s also imperative to stay abreast of the changes. That’s where a Musician Marketing Agent comes into play. What you don’t have the time or knowledge to do, an agent will do for you and will do in a professional and effective manner to optimize your end results.
As a music artist, you’ll get out what you put into it. When it comes to making money on Spotify, if you do a little research, add a dash of creativity, and persist, you can indeed make big bucks on the platform.