Spotify is one of the leading digital music services in the world. Its subscribers can access millions of songs from different genres, artists, bands, and countries from various parts of the world. It is one of the latest innovations to come out of Sweden and win global recognition. Spotify has been a great tool for most Swedish musicians. It makes use of its numbers to help musicians leverage their sales.
How has Spotify helped the music industry in Sweden?
Significant growth in sales
First, Swedish music has experienced a significant growth in sales since Spotify entered the market. In the first half of 2012, the sales increased by as much as 30.1 percent. Streaming music services are now responsible for roughly 89 percent of all music sales in the country. Essentially, Spotify has made the music industry in the country more buoyant than ever. The streaming service is helping musicians to earn more money.
In fact, many artists owe their successes to Spotify.
The Sweden-based streaming service offers musicians one more avenue for making money. Artists make money every time users listen to or stream their music on Spotify. Therefore, it is safe to say that the more an artist’s music is streamed on Spotify the more money it earns. The money earned may not be enough to pay the band members though. However, it is enough to settle a few other bills.
Other Spotify advantages
Nevertheless, is Spotify’s influence only limited to a moneymaking service for artists?
Spotify has a strong presence in the world of social media too. Spotify has also become a social tool. It has integrated its services into various social media platforms. Musicians are now able to utilize their social media skills to promote their music. Subscribers also have the opportunity of sharing the music they listen to with other users. They can do so on their own social media networks thus giving more publicity to Swedish music.
The music industry in Sweden is heading the right way. Its long roster of globally recognized music stars are helping the industry to make great strides worldwide. The industry’s ever-expanding revenues and incomes offer solid proof of the good times that await musicians in the country. Concert revenues, royalties, and music sales (from services such as Spotify) represent the three factors most responsible for the positive times the industry enjoys.
Music sales from CDs are also up; thus negating the oft-spoken belief that Spotify kills them.
Sales from vinyl records are also higher than what musicians earn from YouTube.
Sweden loves giving its musicians and artists the resources they need to pursue their dreams.
Spotify is simply helping musicians to leverage on this to enjoy more success.