Published
Tue, Sep 28, 2021, 17:30
- Published this month, the study estimates that 1,723 musicians rely solely on streaming income.
A new study estimates that only 0.4 percent of UK artists make a living from streaming.
Titled "Music Creators' Earnings In The Digital Era," the study was published this month by the UK IPO. It collated vast amounts of streaming data from 2014 through 2020, along with data from hundreds of artists taking part in study groups and research. The key finding is that only artists who regularly achieve one million-plus monthly streams—roughly 1,723 or 0.4 percent—can rely exclusively on this income.
In her analysis of the study, Water & Music author Cherie Hu posits that this translates to around £2,200 to £3,700 per month in income. Interestingly, 65 to 75 percent of streams for the top 0.4 percent of artists come from their back catalogue, rather than new releases.
"The vast majority of these artists in the top 0.4 percent are likely signed to major labels," writes Hu.
Hu also estimates that the number of artists able to make a living from music has increased five-fold between 2014 and 2020, and the share of all streaming artists able to make a living from their music has increased four-fold during the same period. But she also concluded that the number of streams needed to make a living today is significantly higher than it was five years ago.
The study arrives shortly after similar findings were reported by Music Business Worldwide and after the UK government publicly backed calls for the "big three" labels—Universal, Sony and Warner—to be investigated by the CMA.
Read the study in full.
Photo: Héctor Achautla