How can artist get their worth in the music business ?
This came from the Joe Budden podcast video entitled “How Artist Can Get Their Worth In The Music Business” from 2018, but I believe is still relevant today.
I thought this was very interesting, because it points to a fact that all artist/ podcasters should understand. Any time that you post your work on these platforms, they now have control over it and can determine what they give you.
Obviously you are able to make money, but at what cost? During this video it was stated that for every 1 Million views you get you may accrue $8000 MAYBE. So what is being stated is that if you as an artist receives a million views, each view is worth less than half a penny. Also note that youtube videos are the least profitable form of streaming.
This brings me to the point that, artist have to demand more from these platforms or not use them at all. I understand that everyone may not be able to create their own but if your work is what’s making these labels profitable, than why are you getting the smallest part of the pie??
It was also rumored that Chance the Rapper got 500k up front for the Apple Music exclusive of Coloring book(Not sure if there was a back end) but even so, for a company worth billions, as an artist you only could get 500k with no equity?
Yes, 500k is alot of money and as an independent artist he had a direct to consumer type of deal, which is amazing. But what about the back end? If your album makes millions, would you be satisfied with only 500k?
Get what you’re worth in your dealings, don’t take the first offer and dont fall for the trick of advances. If Warner Bro, sold their stake in Spotify for over 500 million? Why do the artist, the ones who make the platform what it is, get none?
Something to think about, full video below...