SoundCloud Launches New Royalty Plan Powered By Fans | Music News
SoundCloud has announced a new model that aims to benefit independent artists by spreading subscribers’ payment across what they play rather than overall plays across the whole platform.
The music platform is launching a new ‘fan-powered’ royalty distribution system that serves to support smaller artists and compete with megastars. According to SoundCloud’s press release, “a listener’s subscription or advertising payments go directly to the artists they listen to rather than their plays being pooled“.This new system will be applied starting from April 1.
The announcement was made with an instagram post marking it with the hashtag #YourStreamMatters and providing a link with the guidelines on how the new system works for the artists. For more details you can read more here.
SoundCloud’s new CEO Michael Weissman commented on the new modifications: “Many in the industry have wanted this for years. We are excited to be the ones to bring this to market to better support independent artists. SoundCloud is uniquely positioned to offer this transformative new model due to the powerful connection between artists and fans that takes place on our platform.”
He added: “As the only direct-to-consumer music streaming platform and next generation artist services company, the launch of fan-powered royalties represents a significant move in SoundCloud’s strategic direction to elevate, grow and create new opportunities directly with independent artists“.
Let’s see what the new changes bring in practice but it is certainly a good sign of valuing the work of musicians without taking into consideration whether they are starters or megastars.
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