Gone, gone, gone. Gone are the good old days of music artists making any money from records. (That’s what they were called.)
According to a chart put together by hitsdailydouble.com, rock stars are not making much from streaming. How can you tell?
Last week, a group called The Chainsmokers had the number 1 single. It produced a total of $225,956 in revenue that included downloading and streaming. The streaming part came to $104,634. And that little bit of streaming money was generated by sixteen million streams– 16,246,000 to be exact.
That miniscule $104,634 is just for one week, But their song, “Closer,” won’t be number 1 for long. Plus, think dividing up that money. There are five Chainsmokers, plus Halsey, a hot female singer, who’s featured on the record. The Chainsmokers have a record label, a manager, agents, publicists, etc. The money from “Closer” is already gone.
How about the number 1 song of the summer? Justin Timberlake’s “Can’t Stop the Feeling” has been around since the beginning of June. Last week, its total revenue was $85,163. The streaming part was just $30,046. That’s what Timberlake spent on golf balls last week.
No wonder Adele and Taylor Swift have limited their streaming.
One note: Drake’s biggest hit this week, “One Dance,” had 12, 217,000 streams. But his total revenue was less than Sia, whose “Cheap Thrills” had 7.4 million streams. Drake has been the streaming king of the summer. But he may have made a lot less than if hadn’t limited himself to just one service at the start of the summer. Rihanna also suffering from a botched opening. And Kanye West isn’t even part of this story.