26 Jun, 2017, 09:00 ET
Artists Encouraged to Join TuneCore's "Billion Dollar Club" and Upload Free Single to Help Reach Historic Achievement Ahead of Projected Date
NEW YORK, June 26, 2017 /PRNewswire/ -- TuneCore, the leading digital music provider for independent artists, today announced that its artists are approaching the groundbreaking milestone of earning $1 billion in revenue solely from downloads and streams. This benchmark is even more impressive because TuneCore is the only company reaching this milestone while paying its artists 100 percent of what they have earned, and it does not include revenue from other TuneCore offerings, such as Publishing Administration and YouTube Sound Recording. As of May 31, 2017, TuneCore artists around the world have earned more than $920 million collectively from over 75 billion downloads and streams.
In celebration of its artists closing in on such a significant achievement, TuneCore is inviting all artists – both new and existing – to join the "Billion Dollar Club" and help reach $1 billion in revenue ahead of the projected October date. For a limited time, artists will have the opportunity to upload a single for worldwide distribution – free of charge– using the special coupon code "BILLION" (U.S., Canada, UK and Australia); "MILLIARD" (France); "MILLIARDE" (Germany); and "MILIARDO" (Italy). In addition to taking advantage of the free single, participating artists will contribute to a major, once-in-a-lifetime milestone for TuneCore, as well as a significant revenue benchmark for the greater independent music community as whole. TuneCore will also host a count-up tracker on the TuneCore website to show artists' progress toward reaching $1 billion in revenue.
"TuneCore is incredibly proud of our artists for reaching such an impactful industry milestone while keeping 100 percent of their earnings through streaming and downloads," says Scott Ackerman, CEO at TuneCore. "We are deeply committed to helping our artists maximize their revenue, which is why we are so excited to celebrate as they approach this historic achievement. We encourage artists around the world to join the Billion Dollar Club and help reach $1 billion in artist earnings ahead of our projected date."
To further celebrate artists and get their music heard by more people around the world, the company is giving artists the chance to be featured on TuneCore's curated Spotify playlist. To participate, artists simply need to share a screenshot of the cover artwork from their release through TuneCore, post it to Instagram and tag their post with the #TCBillion campaign hashtag. Additionally, TuneCore artists will have the opportunity to add a "Billion Dollar Club" badge to their Facebook profile pictures to showcase their contribution to this outstanding milestone. TuneCore will continue to roll out additional content aimed at engaging artists throughout the summer, including music education videos featuring TuneCore musicians.
The constantly evolving nature of the music industry coupled with the industry's overall rapid growth has allowed TuneCore artists to reach such high revenue earnings at an unprecedented rate. According to the 2016 IFPI Report, while overall digital revenues for the global recorded music market grew by 17.7 percent, revenue earned by TuneCore's independent artists grew by 32 percent. Similarly, while streaming revenue for the global recording industry grew by 60.4 percent, TuneCore's streaming revenue grew by 85 percent.
As a result of the increasing popularity of streaming, TuneCore has also seen strong growth across its international markets, with a 119 percent year-over-year increase in streaming in Australia, as well as year-over-year increases in Germany (89 percent) and the UK (84 percent). Streaming also continues to grow in the U.S. with a 101 percent year-over-year increase, demonstrating the rapid growth the music industry can continue to expect.
As digital music industry revenues continue to rise, TuneCore remains committed to providing its independent artists with the tools necessary to capitalize on all the money-making opportunities. Unlike traditional earnings models in the music industry, TuneCore artists keep 100 percent of their revenues while maintaining complete ownership of their music. Beyond distribution, TuneCore continues to expand its robust portfolio of cutting-edge artist services such as TuneCore Social, TuneCore Direct Advance, YouTube Sound Recording Revenue and Music Publishing Administration for its artists to promote their work, connect with fans and get their music heard around the world.
TuneCore brings more music to more people, while helping musicians and songwriters increase money-earning opportunities and take charge of their own careers. The company has one of the highest artist revenue-generating music catalogs in the world, earning TuneCore Artists $920 million from over 75 billion downloads and streams since inception. TuneCore Music Distribution services help artists, labels and managers sell their music through iTunes, Apple Music, Spotify, Amazon Music, Google Play and other major download and streaming sites while retaining 100 percent of their sales revenue and rights for a low annual flat fee. TuneCore Music Publishing Administration assists songwriters by administering their compositions through licensing, registration, world-wide royalty collections, and placement opportunities in film, TV, commercials, video games and more. The TuneCore Artist Services portal offers a suite of tools and services that enable artists to promote their craft, connect with fans, and get their music heard. TuneCore, part of Believe Digital Services, operates as an independent company and is headquartered in Brooklyn, NY with offices in Burbank, CA, Nashville, TN, New Orleans, LA, Atlanta, GA and Austin, TX, and global expansions in the UK, Australia, Japan, Canada, Germany, France and Italy. For additional information about TuneCore, please visit www.tunecore.com or https://youtu.be/2qKjKkGrStY
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