There was a Luminate’s 2024 Year-End Music Report that revealed that around 99,000 songs are uploaded to streaming services daily, totaling approximately 2.77 million per month. While this is slightly lower than 2023’s rate, the overall number of tracks on streaming platforms has grown to 202 million by the end of 2024. However, the vast majority of these songs struggle to gain traction:
- 93.2 million tracks were played 10 times or less.
- 175.5 million tracks did not reach Spotify’s 1,000-play threshold for royalties.
- 86.88% of all music on Spotify generates no income.
- 95% of artists have fewer than 1,000 monthly listeners.
On the other hand, the rise of AI-generated content further complicates the issue, as streaming algorithms continue to favor a select few artists. The report underscores the growing challenges musicians face in an oversaturated market with low streaming payouts.
This is a huge problem and it is not new. If you want to know what we think about it, head over to the video below!
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