Another anniversary – a year ago Soundcloud announced their new 'Fan-Powered royalty' system and we covered it in here – so how's that working out for artists now? Pretty successfully, it would seem.
This week the platform published some stats. It says that on average, independent artists are earning 60% more royalties through the system versus the traditional 'pro rata' model used by most streaming services. It also says that in the last year the number of artists signed up to make money on SoundCloud has grown by 30% to 135,000.
SoundCloud also said that "since March 2021, 97% of fans on SoundCloud have contributed more than $5 to a single artist they love". Good stuff all round we think. SoundCloud are even now taking a leaf out of BandCamp's book (read: copying) today with 'Fan-Powered Friday' where they will "double" artist payouts by matching 100% of the revenue earned. Via SoundCloud/MBW