After paying $ 222 million. to artists in 2021, TuneCore has now surpassed the total payouts of $ 2.5 billion.

DIY music distributor TuneCore said today (April 25) that it has exceeded the milestone of paying more than $ 2.5 billion in royalties to artists since the company was founded in 2006.

TuneCore, which since 2015 has been owned by Paris headquarters Believe, also revealed that artists using their platform have cumulatively achieved 500 billion streams and 700 million downloads to date.

Speaking of TuneCore CEO Andreea Gleeson: “TuneCore’s mission is to support self-published artists and give them the tools to grow their careers independently.

“We want music creators to know that TuneCore is where you go to make money, and by announcing that our artists have earned $ 2.5 billion, we’re showing receipts.

“While TuneCore is truly proud to reach this huge milestone, all credit goes to our incredible artists.”

According to its latest financial results, Believes’ ‘Automated Solutions’ business – aka TuneCore – collected € 188 million ($ 222 million) in artist royalties in calendar 2021.

In accordance with TuneCore’s business model (100% of the royalties collected were repaid to customers), and / or all of this money will be paid to TuneCore’s artists.

In 2020, this annual number (money raised by TuneCore and paid out to artists) was on € 133 million ($ 152 million).

Figures from Believes FY2021 annual report; see footnote (1) for details on TuneCore artist payments this year.

Meanwhile, Believe self generated € 35.8 million ($ 42.3 million) in revenue from ‘Automated Solutions’ (aka TuneCore) in the 2021 calendar.

This figure does does not include € 188 million which TuneCore collected and paid out to artists in 2021 (since TuneCore pays out 100% of the collected royalties).

Instead, it represents the total subscription money paid to TuneCore by its do-it-yourself clients / uploaders plus any other additional (non-royalty) income generated by the platform.

Believes net sales for FY 2021, with ‘Automated Solutions’ representing its TuneCore business.

TuneCore’s announcement of artist payouts comes at a time when the independent label and ‘artist direct’ (ie self-publishing artists) sector is becoming an increasingly significant contributor to global revenue from recorded music.

Last year alone, according to Midia, independent labels and artists directly generated $ 9.9 billion in recorded music royalties, with only the ‘artists direct’ segment estimated to have driven $ 1.5 billion of that amount.

In addition to announcing its $ 2.5 billion artist payout figure for artists, TuneCore announced today that it “also offers additional ways for artists to make money,” which includes its music publishing management service and YouTube Content ID.

TuneCore reports that both of these areas have grown in double digits over the past year.

After expanding into several emerging markets in recent years, TuneCore now has operations in 14 countries across four continents, with the TuneCore website localized in 16 languages ​​and supporting seven currencies.

TuneCore says creators outside the United States have grown to represent 60% of its new artists and labels as a result of their global expansion.

“We want music creators to know that TuneCore is the place to go to make money, and by announcing that our artists have earned $ 2.5 billion, we’re showing receipts.”

Andreea Gleeson

Elsewhere, TuneCore reports that their ‘Social Platforms’ service, launched in November to let do-it-yourself artists distribute music to social platforms like TikTok and Instagram, “has experienced immediate success”.

The platform points to Lauren Spencer-Smith as a specific artist success story, noting that Spencer-Smith scored a viral hit with his single With crossed fingers, which has seen 32 million views on TikTok.

The song has been over 151 million streams alone on Spotify, hitting the Top 15 on the Billboard Global 200 and Top 20 on the Hot 100, while debuting as No. 5 on the Emerging Artist Chart. In the UK, it climbed to No. 4 on the weekly UK charts.

Spencer-Smith has also garnered 10 million monthly followers on Spotify and has recently signed to Island Records in the United States.

Other artists’ success stories quoted by TuneCore include Nashville-based Alexandra Kay, who has been self-publishing music through TuneCore since 2015.

Kay launched a “Coffee Covers” series on TikTok during the viral pandemic, and saw her followers on the platform grow to 2.9 million.

The artist has also gained 600,000 monthly listeners on Spotify, according to TuneCore.

Meanwhile, Houston-based rapper Queendom Come reached 56 million streams on Spotify with his song So go, after which she saw a “250,000% jump in royalties”, according to TuneCore.

Last month, TikTok confirmed to MBW that TuneCore has been selected as its distribution partner for its new SoundOn distribution service.

Artists who upload their music to TikTok SoundOn will then have that music distributed to other platforms (Spotify, Apple Music, etc.) via TuneCore.Music business worldwide

Leave a Reply

Your email address will not be published. Required fields are marked *