SoundCloud the first online music player that pays royalties directly to artists |
Posted: October 6, 2021 |
Online music application SoundCloud announced that it will become the first online music application to collect fees from listeners and directly transfer this money to artists. Accordingly, from April 1, SoundCloud will begin to directly transfer copyright fees to the artists who own the songs that users subscribe to listen to. SoundCloud CEO Michael Weissman said: “A lot of people in the music industry have wanted this for years. We are excited to be the ones bringing this paid method to market to better support independent artists.” SoundCloud says the new payment system - called "fan-powered royalties" or "user-centric model" - will empower listeners and encourage diversity in style music. SoundCloud's statement highlights that artists are now better equipped to advance their careers through closer connections with their most dedicated fans. Fans can directly influence the pay for the artists they love. The major record companies, according to reports, have opposed such a way of paying royalties for this reason: because the present system allows them to earn significant earnings from a small number of big stars. A study released earlier this year by France's Center National de la Musique showed that 10% of total revenue from music streaming platforms Spotify and Deezer belongs to only the top 10 artists. This allowed major record labels to accumulate record sales over the past year, while most musicians were plunged into crisis by canceling live tours due to the COVID-19 pandemic- 19. SoundCloud is a music and audio streaming platform. Users can upload, store, and share audio content with this app, discover new songs and podcasts, or interact with fans (if you're a singer, professional or amateur) and musicians. If you are user, you can use Soundcloud mp3 downloader to download musics from Soundcloud.
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