SoundCloud recently announced they will be roll out a monetization option for indie artists. The platform will allow creators to use the new program SoundCloud Premier to monetize from uploaded content. To qualify user must be a paying subscriber of SoundCloud Pro or Pro Unlimited. Additionally, the content must have had at least 5,000 streams in the past 30 days.
They have not announced the amount of revenue-per-stream that they will pay, but they have stated “competitive rates and faster payouts” will be offered.
SoundCould traditionally has been the audio sharing platform of remixes and audio sampled material. Artists that have copyright “strikes”, will not be eligible for the new service. This may change the dynamic of SoundCloud’s original userbase.
The move mirrors Spotify’s recent initiative to allow independent artists distribution to the streaming service directly. Till now, creators had to use a third-party distribution services in order to list music on Spotify and Apple Music. SoundCloud was different, as users could always directly upload their audio files since inception.
Many artists credit their success to the platform, Post Malone’s debut single “White Iverson” went viral on the platform. Mystery DJ Marshmello went from releasing remixes on SoundCloud in 2015, to becoming the 9th most listened to artist on Spotify this year.
It will be interesting to see if monetization changes the dynamics o creators on the platform.
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