It’s just over a year since SoundCloud launched its user-centric ‘Fan-Powered Royalties’ system, so how is it going? Yesterday, the company published some stats. It says that on average, independent artists are earning 60% more royalties through the system versus the traditional ‘pro rata’ model used by most streaming services. It also says that in the last year the number of artists signed up to make money on SoundCloud – a pre-requisite for joining the Fan-Powered system – has grown by 30% to 135,000.
SoundCloud also said that “since March 2021, 97% of fans on SoundCloud have contributed more than $5 to a single artist they love”. To celebrate all this, SoundCloud is taking a leaf from BandCamp’s book this week with ‘Fan-Powered Friday‘ – a day where it will “double” artist payouts by matching 100% of the revenue earned that day.