Why $8.42 can change your life
Why $8.42 can change your life
After launching our core interface just 6 months ago, Reward Music has clearly delivered on its ability to connect artists directly with their fans. The results are in and the average artist has been able to earn $8.42 per year per member. * $8.42 per year based on the average fan spending $4.21 over the past 6 months.
If you’re thinking, “that doesn’t sound like much,” in just a moment you’ll realize why that number is so important to every artist and content creator.
On March 18th Spotify announced details of artist earnings. With millions of artists on their platform worldwide, only 42,100 of them were able to earn $10,000 during 2020. In order to earn $10k, artists had to individually generate 2.5 million streams. Yep, you read that correctly. $10,000 isn’t even minimum wage. In fact, the odds of making anything close to $10k on Spotify are astronomically stacked against you.
Here is the actual data from their site:
Based on the statistics provided by Spotify, let’s examine Reward Music’s proven ability to generate artist income. Not only that, let’s recognize that Reward Music does this while simultaneously creating a permission based eco system for artists with built in incentives and reciprocation between artists and their fans.
Spotify and every other social platform does the opposite, they collect all fan emails, which are never shared with the artists who drove them to the platform in the first place. As everyone knows, the emails and fan data are then monetized to the tune of billions of dollars annually for the music behemoths. Artists are then forced to buy ads to try reach their own fans/followers they brought to the platforms.
In the example below you see how social media platforms sell fans data to anyone for use in targeted ads. Your own fans/followers on social media are being sold to others as you read this.
Since the big platforms control the flow of information they deliberately constrict artists abilities to reach their own fans. They do this because it’s extremely profitable and artists willingly comply because they want to be part of the brand name system and potentially “be seen and heard” by millions.
What is different about Reward Music?
Artists are able to match what they could potentially make from Spotify with only 1,188 fans. Think about that, 1,188 fans supporting an artist directly on their Reward Music powered artist site make it possible for them to earn $10,000 per year.
Compare that with the Spotify model. In order for artists to earn $10k from Spotify, over 2.5 million random listeners would need to access their music. Spotify does not enable artists to have direct communication with the specific listeners who choose their music either.
Reward Music enables artists to create direct relationships with their core fans who will continue to return to their site and participate in their online community. Remember, with just 1,188 fans, artists can match or beat their Spotify earning potential vs having to try to reach over 3 million people to make the same amount of money.
Are you seeing the difference? What sounds more feasible, reaching and engaging 1,188 core fans who've given you permission to market to them or trying to reach over 3 million fans random consumers you have no way to contact directly?
Generating sustainable income is directly related to your ability to reach and engage with your audience. A Reward Music powered artist site is the ultimate business solution for artists in the new age of the music industry.
According to the Bureau of Labor Statistics (BLS), the median wage for workers in the United States in the fourth quarter of 2020 was $984 per week or $51,168 per year. Spotify is home to millions of artists and millions more subscribers worldwide but only 14,300 artists were able to make $50,000 in 2020. Lets also remember the artists could not tour at all for most of 2020 and there still isn’t any guaranteed return to normalcy within the touring industry. That means the vast majority of musical artists suffered financially in 2020.
Spotify makes way more money than the artists ever will from their own work and these numbers are a shocking reminder of the imbalance that exists in the music industry. Artists can choose to continue to stock their music on Spotify and every other digital outlet but along with that it’s time for them to consider a new way, a direct way of creating lasting relationships with their fans.
Remember the number $8.42 that started this email? Reward Music powered artist sites have generated a spending average $8.42 per fan. That means artists can earn $50,000 per year with only 5,939 core fans.
Artists - You can do that! That is just the beginning!
The future of the music business is clear - Artists need to own their relationships with their fans. You can start owning yours today!
Do you want to earn money from your music?
It’s time to understand why building a direct relationship with your core fans should be your biggest goal. The big companies have direct access to their emails and you don’t. They don’t use social media to get their attention, they use their emails to reach them directly.
Artists don’t need to give all of their content away on social platforms. The one small change they could make is to keep their most exclusive content for their core fans and make it accessible in one place.
Apple is a 2 trillion dollar market cap company and Spotify is a 52 billion dollar market cap company, and when it comes to music they’ll gladly take your content for free from you to earn themselves billions more. They will pay you nano pennies on the dollar with accounting so insane you won’t even want to look at it. That’s on purpose of course!
They literally earn billions while the artists earn virtually nothing. So why should artists continue to keep giving them their most valuable assets? It’s time to understand that content has value and artists are entitled to earn the majority of that value. As an artist, you’ve probably invested a lot time and money to realize your music. Why give it away for free?
If you could make $1,000,000 dollars out of these 2 options which would you choose?
1) Cast the widest net possible on the big platforms to attempt to earn 1 dollar from a million random people you’ll never contact directly.
2) Earn 100 dollars from 10,000 who come to you directly in one easy to find location because you’ve built a direct relationship.
The choice is yours.
You don’t need millions of fans to be successful. At $8.42 per fan, just 12,000 fans would enable an artist to earn $100,000 per year.
Whether you already have a Reward Music powered artist site or you are about to sign up, bringing your fans to your own site by incentivizing them with your best work and exclusive content is the best way to create sustainable income.
While it’s possible for artists results to vary, the principles of earning remain constant. For example, if your Reward Music powered artist site generated 10% of the average, where else would you have that kind of financial success selling your music? Definitely not on Spotify or Apple.
Sign up now for your Reward Music powered artist site and start earning more from your music.
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