TuneCore Reaches Record of $1.5 Billion in Artist Revenue
Independent digital distributor TuneCore announced today (April 29) that it has reached a record $1.5 billion in download and streaming revenue.
The Brooklyn-based service broke down some of the secrets to its success: TuneCore artists earned $83 million in Q1 2019, a 21 percent increase over Q1 2018. Last year, distribution income for artists hit $308 million, a 28 percent year-on-year increase. And finally, total streams and downloads by TuneCore's 250,000 artists amounted to a staggering 199.3 billion in 2018, a 83 percent increase from 2017, the same year that the platform approached $1 billion in artist revenue.
"TuneCore is the only global platform that pays artists 100% of what they earn from digital streams and downloads, while also meeting all of their needs across distribution, promotion and publishing administration," said Scott Ackerman, CEO of TuneCore, in a statement. "In 2019 we’re seeing great momentum in helping our customers build sustainable careers by finding new income across formats and channels."
Additionally, publishing administration royalties collected for TuneCore grew 42 percent in 2018, and YouTube monetization added more new income for TuneCore artists 48 percent over 2017.
TuneCore also revealed some interesting figures on streaming's international development: heavy metal and J-pop are some of the fastest-growing geres worldwide (154 percent increase and 133 percent increase, respectively). Africa exhibited 146 percent growth in streaming, followed by Asia at a distant second with 52 percent growth. It would appear from these data that Morocco and South Africa are driving the continent's streaming explosion: the North African country's streaming market grew 243 percent in 2018, while the latter increased 125 percent.