Pop Music Revenue Streams - Part 2
To identify 10 specific revenue streams of pop music singers focused on platforms useful to independent artists with self-distribution by including a short description and average earnings.
- A short description of revenue streams and the average earnings for them are presented on the attached spreadsheet.
- On-Demand streaming platforms such as Spotify splits the revenue between the different people and organizations involved in the process. This direct revenue increases for independent artists who do not split the earnings with a label.
- Commissions are another option of income for pop singers. In this case, the song is specifically created for the client. The minimum pay for this type of work is estimated at $500.
- Synchronization can be a great source of income, considering it comprises 6.6% of the market share in the music industry. Earnings can vary widely depending on the artist, the project, and the song.
Proposed next steps:
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During our one hour of further research, we were able to provide insights about three of the identified ten revenue streams. We propose additional research to provide the information corresponding to the remaining seven revenue streams presented on the attached spreadsheet.
Alternatively, we propose expanding the research to include 2-3 best practices when creating a contract as an independent artist, as well as a case study for one independent artist who has reached success using one of these revenue streams.