Tunecore Quarterly Payments To Artists Up 24% To $44 Million Driven By Dramatic Streaming Growth
TuneCore payments to artists rose 24% to $44 million last quarter over the same quarter last year. Since TuneCore launched in 2006, their artists have earned $733 million from 36.5 billion downloads and streams.
TuneCore independent artists earned $44 million in the second quarter of this year. That's a 24% increase from the second quarter of 2015.
Much of the growth is coming from an explosive 82% increase in streaming: TIDAL (+157%), Amazon Music (+112%) and Spotify (+89%). Interesting there were no stats from Apple. Streaming has also proven to be up globally: Australia (+124%), UK (+97%), Germany (+108%) and India (+112%).
Tunecore's music publishing administration service was up 31% in growth in gross revenue year over year. YouTube continues to be a lucrative platform for independent artists with gross revenue from YouTube Sound Recording experiencing a 110% increase and YouTube Art Tracks seeing a 384% increase in gross revenue growth.