TuneCore Reports Milestone Earnings; $330 Million in Artist Payments Since Inception
Digital distributor TuneCore has shared some impressive numbers, none more eye-catching than the $330 million the company says its artists have earned since it opened for business.
TuneCore Artists have earned a third-of-a-billion dollars in sales revenue since launch in 2006, on more than 4 billion cumulative streams and download units, Billboard can reveal.
The firm also reports artist earnings grew 20 percent in the January-September 2013 period, against the same period in 2012, and that TuneCore artists saw a 135 percent increase in music downloads and streams over the same timeframe. A string of new product and service enhancements launched in recent months which played a part in the spike, the company notes. TuneCore identifies new store partnerships including Gracenote and Shazam, along with JUKE and 7digital international streaming services, which are “providing (artists) even greater worldwide music exposure and opportunities to grow their music revenue.”
It’s been four months since TuneCore revealed it had paid-out $300 million to its clients since its inception, on 3 billion cumulative streams and downloads.
TuneCore's commitment is to “providing all artists with affordable distribution and publishing administration solutions to build successful careers, get their music heard worldwide, and make money from their music,” comments the company's COO Scott Ackerman in a statement. “We congratulate all our TuneCore Artists in achieving this $330 million earnings milestone.”
TuneCore, which pays out all revenue it collects from digital services directly to artists, charges those clients an introductory album fee of $29.99 for the first year, and $49.99 each following year.
Set fees also apply for single distribution, ringtone distribution and publishing administration. TuneCore Music Publishing Administration licenses and registers songwriters' compositions globally and collects royalties from more than 60 countries.