Monetization: How? Why? Where? When?
Earning revenue on music in today’s digital music industry is tough, and Jamvana understands that.
With monetization being one of artists’ main sources of income, it’s vital that artists have a solid understanding of how monetization works and why it’s important. First of all, what is monetization? Simply put, monetization is enabling a track, video, blog post, website, etc, to earn revenue. With blog posts and websites, earning revenue is generally done by ad placements, which can be achieve through sites like Google AdSense. Tracks and videos are a bit different, however. Earning revenue on tracks and videos is a combination of both advertisements and stream counts. For example, YouTube places ads on monetized videos. Each time that advertisement is clicked on, seen, or clicked on and then an item is purchased, the video in which the ad was placed earns a certain amount of money. The more views and subscribers one has, the higher the payout.
How do I monetize my music?
A misconception for monetization is that one can just upload to SoundCloud, Spotify, or any other digital service provider (DSP) and just click a magic button that earns revenue. Unfortunately, this isn’t the case. DSPs don’t directly deal with artists; therefore, the artist or label must utilize what’s called a distributor or aggregator like Jamvana. Once the artist(s) uploads their music to Jamvana’s music distribution system (MDS), then Jamvana will push the content to the DSPs, such as Spotify, Apple Music, Tidal, Google Play, etc.
Why should I monetize my music? What are the benefits?
Monetizing music allows the artist to earn revenue for their art. We know that artists work incredibly hard at their craft, and it’s only fair that they are compensated for it when sharing it with the world.
Where should I monetize my music?
Ultimately, it’s the artist’s decision. However, Jamvana recommends focusing on 10 DSPs. It’s best to take the quality over quantity route. For example, rather than publishing music to 50+ distributors around the world, do some research and focus on 10, such as Spotify, Apple Music, Google Play, AmazonMP3, etc. Furthermore, it helps to do some research to find out which DSPs work best for the artist’s genre and which DSP has the most users.
When should an artist monetize their music?
Immediately. In today’s digital world, content can be shared instantaneously and go viral in a matter of an hour. Whether the artist thinks their content is Billboard No. 1 worth or horrendous, the content should be monetized. Let’s think about going viral for a minute: If the artist shares content and it goes viral and the content isn’t monetized, no money will be made (keep in mind that 1 million Spotify streams is roughly $4,000 USD). Jamvana offers two plans when distributing your music, and both of them offer monetization. On the free plan, Jamvana keeps 20% of all revenue earned. The paid plan is $19.99/mo., and the artist(s) and/or label(s) keep 100% of the revenue earned. For more information on our pricing plans, please click here.
Monetization is an important aspect in an artist and label’s career, and it’s vital that both understand how, why, where, and when. We wish you happy releasing and monetizing!