TuneCore Reports 90% Streaming and Download Growth, But Just 6.3% Rise in Payments To Artists
D.I.Y. digital distributor TuneCore announced today that is artists had a collective 3.6 billion downloads and streams in the last 3 months. That resulted in 90% increase versus the same time last year, and artists saw a 6.1% in earnings over the same time period, totaling $34.7 million.
90% growth yearly is impressive. but the resulting modest 6.1% earnings growth illustrates industry concerns over streaming revenue.
TuneCore also announced today the opening of a new office in Atlanta, Georgia, it’s sixth location nationwide. To lead operations in the South’s hip hop epicenter, TuneCore has hired Phillana Williams as Vice President. Williams was EVP at Stealth Sports & Entertainment and has held positions at Motown, Island Def Jam and the Sony Music Group.
Additional Artist Earning Insights
- TuneCore Artists currently total 1.2 billion streams per month.
- TuneCore artists have garnered approximately $3 million in gross YouTube sound recording earnings from October 2014 to October 2015.
- Music Publishing Administration services in Q3 of this year have propelled artists to a 75 percent year-over-year increase in international revenue and a 70 percent increase in sync revenue since the same time in 2014.