Distributor TuneCore has now paid out more than $2.5bn to artists in royalties since the company was founded in 2006. That’s based on payments for 500bn streams and nearly 700m downloads of music from artists using the Believe subsidiary’s service. Alongside the milestone, TuneCore said that non-US artists are now 60% of its new clients, and pointed to the wider trend of ‘artists direct’ generating $1.5bn of revenues in 2021 – according to figures recently published by Midia Research.
TuneCore paid out €188m (around $201.3m) to artists in 2021 according to Believe’s last financial results, so it may have around a 13.4% share of that ‘artists direct’ market. TuneCore also flagged up the fruits of its recent focus on helping artists release music to TikTok. It cited Lauren Spencer-Smith (32m views on that app for her track ‘Fingers Crossed’) and Alexandra Kay (2.9 million followers there) as artists who have not just succeeded on TikTok, but who have then seen their metrics rapidly increase on streaming services.
Music Ally archive: TuneCore
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