A few years ago, accessing the latest music album meant running to the local record store to get a CD or vinyl. Alternatively, your fanbase would have to buy songs online, or a final option that artists will all agree isn't cool was downloading the songs illegally.
All that has changed thanks to the digital era. Today, streaming services have revived the music industry. In the UK, for instance, the music and streaming market study report found that music streaming services had 39 million monthly active users, and there were more than 138 billion streams that year.
Moreover, the music streaming market is growing, with a predicted yearly growth rate of 17.8 percent. So what does this mean for artists?
The Role of Spotify in the Music Industry
With millions of consumers paying subscription fees to music streaming services, tools such as Spotify continue to play an important role in artists' success on a global scale. Spotify accounts for 31% of the subscription market and continues to gain new active users every year.
Here are a few facts about Spotify and its impact on the music industry.
- In 2021, the service paid out music rights holders a total of $7 billion, the highest amount to ever be paid by a music streaming service
- Spotify's 2021 streaming sales exceeded the whole music industry's revenue recorded between 2009 and 2016
- More than 1000 artists generated $1 million from the streaming service
- Record labels using Spotify for artists reported increased revenues
Overview of Spotify for artists and its benefits for independent musicians
If you've been trying to understand Spotify for artists, you've clicked the right page. So, what is Spotify for artists? The music streaming service offers a free platform that allows artists to create and verify their profiles and, even better, access statistics related to their music and tools to help them boost their reach and income.
To create a Spotify artist account for free, you must first have an existing user account. Here is what to do next.
- Visit 'Spotify for artists' website
- Click your name on the top and go to 'claim your profile'
- Note that Spotify only allows distributors to publish music; therefore, you must be affiliated with one to continue
- Enter the artist name you wish to verify on the search bar that appears
- Login using your online distributor's details
- Send a verification request and wait
As an independent musician, you might ask yourself whether getting a Spotify for artists account is a good investment. The short answer is yes. And here's why.
- It provides independent artists with the much-needed exposure to increase the fanbase
- Spotify offers artists a chance to express themselves fully thanks to the Bio window on the artist’s profile that lets you add your personal story and any other information you wish to tell your listeners
- Getting a verified account builds more trust with your audience
- The data tools allow artists to gain more insight into listeners' habits hence better decision making
Understanding Your Audience With Spotify for Artists
Overview of the insights and data provided by Spotify for Artists
By using Spotify for artists, you can assess the impact of your songs across various playlists. Also, you can view the stream numbers, i.e., gauge popularity and the number of monthly active listeners and followers. Even better, the tool provides data on your demographic. Plus, the service keeps you updated on your position in the music charts.
How to use the data to understand your audience and their listening habits
As an independent artist, Spotify for artists’ app data can be useful in understanding your progress. By visiting the 'Audience' tab, you can assess how many listeners and followers you have gained. Taking advantage of the 'Source of Streams' section would be best. Here, you'll learn where your streams are coming from, typically from your profile and Spotify's editorial playlist. With this data, you can determine whether listeners manually search for your music or discover it from playlists.
The demographics chart, i.e., Age, Gender, Top Cities, and Top Countries, will provide a global view of your music. With this information, you can make wise decisions on marketing and partnerships. Another section that presents new opportunities is the 'Listeners also like' feature that can help you identify potential artists' collaborators.
Case studies and examples of independent artists who have used this data to grow their audience
Spotify insights data has helped propel certain artists to stardom. For instance, REI AMI, a Maryland artist who, thanks to the Spotify editorial playlist, gained over 50,000 streams, now uses the app's data to grow her audience.
Connecting With Your Fans Through Spotify for Artists
Overview of the personalized messaging and playlist placement features
Spotify uses algorithms to personalize listeners' playlists to shift how users discover new artists. This feature is an independent artist's dream as it allows you to appear in several playlists if it meets the element or vibe rather than hope for a human-curated playlist to discover you.
How to use these features to interact with your fans and promote your music directly
2022 saw Spotify's feature 'Spotify wrapped' grow in popularity than previous years. As an artist, this feature allows you to connect with your audiences directly through video messages. Here, you can give the listeners who have been loyal to your music a personalized shout-out, welcome the new ones, and plug your new music.
Examples of independent artists who have used these features to grow their following
Due to the dynamic world of digital music, many artists are enjoying a more favorable playing field as major labels yield some ground. You’ve probably encountered the viral Steve Lacy song "bad habit" on various social media platforms and stores. Thanks to Spotify Wrapped, the artist used the app's video messaging feature to connect with his audience by sending personalized messaging that resonates with his Gen Z and millennial following.
To support independent artists gaining traction across the Fresh Finds ecosystem, Spotify teamed up with Samsung to equip these musicians with solid resources and features the artists in ads within the playlist. For one, this allows the musicians to use their phones as voice recorders and take notes. As such, artists like Miami’s Elena Rose can take advantage of video calls to write music with the listener rooted to that call.
Monetizing Your Music With Spotify for Artists
Overview of the different revenue streams available on spotify, such as ads, premium subscriptions, and merchandise sales
A surefire way of earning money from Spotify as an artist is through more streams. However, this can be challenging if you are an independent artist. A few things you can do to increase your streams include using the playlist submission tool, collaborating with more famous artists, planning tours, selling merchandise, and releasing new music.
How to take advantage of these revenue streams to generate income from your music
The playlist submission tool is a unique Spotify feature you should utilize. All you need to do is click the app feature, submit your song, and wait for the Spotify editorial team to add it to playlists. That's not all. You could leverage Spotify data on listeners and overall demographics to plan shows in locations where you have a wide fanbase.
And use Spotify to promote your shows to sell more tickets. To achieve this, input the tour dates on the app, and the information will appear on users' accounts. Ensure also to use Spotify's 'Merchbar' to sell your merchandise.
Case Studies and Examples of Independent Artists Who Have Successfully Monetized Their Music on Spotify
More than 400 million fans globally connect with artists and enjoy their music on Spotify. That’s why the streaming solution is a powerful place for musicians to monetize.
Earn money on Spotify by driving awareness for your ticketed events—taking advantage of either virtual or IRL. Promote your shows on your artist profile, an exclusive in-product hub (search for “Concerts” on Spotify), plus send personalized emails and fan notifications.
Spotify for artists has helped artists like Natasha Noorani, a Pakistani singer-songwriter, earn from her passion. Using the streaming service's algorithm, she has managed to evaluate her reach and use Spotify to market her music.
The Future of Music Streaming and the Benefits of Using Spotify for Artists
Benefits of using the Spotify tool compared to other music streaming platforms
Unlike other music streaming services, Spotify has been upfront about how much artists make on the platform. Visit their Loud & Clear page to view this information. Moreover, in 2021, Spotify paid its artists more than any other service in the industry.
Master Spotify for Artists to amplify your fanbase
Spotify can be a goldmine for artists. Not only is it free to create an account, but it also allows artists to request verification. As an independent singer, widening your fanbase can seem daunting. However, taking advantage of the app's data allows you to gauge where you stand in the charts and the next steps, such as tours or collaborations. If you've been on the fence about getting that premium account for artists, how about you try out Spotify for artists to maximize your music potential?