Music industry company, Soundcloud is introducing fan-powered royalties — a more fair and transparent way for artists to earn money on SoundCloud. Check out the post below.
The new service, Fan-powered royalties will start on April 1st, 2021 for independent artists monetizing on SoundCloud. To know more about the new service you can visit the Soundcloud website here.
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Soundcloud shared the news via Instagram with the caption, “Today we’re introducing fan-powered royalties — a more fair and transparent way for artists to earn money on SoundCloud.
They added, “Under this game-changing model, we’re leveling the playing field for independent artists and empowering fans to directly support the artists they love. With fan-powered royalties, the money made from dedicated listeners goes directly to the artists they listen to, so it benefits rising independent artists.
“Fan-powered royalties are what independent artists across the industry have been asking for — and as an artist-first platform, we’re excited to be the first music company to roll it out. Fan-powered royalties go into effect starting April 1, 2021, for independent artists monetizing on SoundCloud.”
“Many in the industry have wanted this for years.” SoundCloud’s CEO Michael Weissman said in a statement: “We are excited to be the ones to bring this to market to better support independent artists. SoundCloud is uniquely positioned to offer this transformative new model due to the powerful connection between artists and fans that takes place on our platform.
He added, “As the only direct-to-consumer music streaming platform and next-generation artist services company, the launch of fan-powered royalties represents a significant move in SoundCloud’s strategic direction to elevate, grow and create new opportunities directly with independent artists.”
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