How do you even split a penny into three pieces? (Asking for a friend).
We meet with artists and teams every day who agree that $0.004/stream is not sustainable.
When I started building EVEN two years ago, I began by analyzing the streaming data and revenue of over 100 artists, from emerging DIY artists to global stars. What I discovered was both upsetting and unsurprising.
Artists need over 200,000 fans to listen to their music to make $5,000 a month from streaming.
200,000 people every month have to listen to an artist more than 5 times (assuming these are premium listeners) just for that artist to survive and pay their bills.
This is wild on its own, but it gets even wilder when you realize that if this were any other business in the world that had 200,000 customers, you would be making hundreds of thousands to millions every month.
It became apparent that the music industry has a streaming problem.
That year, we launched EVEN’s MVP and saw that, with EVEN, an artist only needs 200 fans to make $5,000, just like any other business.
Who would have thought that people would be willing to pay for music simply by putting a price tag on it again?
The solution to the streaming problem is simple: MUSIC SHOULD NOT BE FREE!
Sell music first directly to fans with EVEN.
Upload to streaming platforms second.
That is the formula.
#musicindustry #musicnews #streaming #dtc #superfans #EVEN #consumer