While you must be used to playing your favorite numbers on Spotify, do you know you can utilize the platform for generating a good amount of money from home? We also were skeptical when we first heard of it, but it is in fact a reliable source to make money online.
Being one of the popular music streaming platforms, Spotify has millions of registered users who regularly pay for the subscription to enjoy premium quality on the go. The fact that a large population from across the globe gathers on one platform can help you generate a steady income stream as a side hustle.
Let’s see how you can do it and earn yourself a good deal of money without having to make a significant investment.
Make Money on Spotify: Tips, Tricks, and Hacks
By now you must be quite familiar with the fact that you can make money with Spotify. But how to make that happen? How much investment would be needed? What kind of resources would be required?
To get a clearer picture and see how others are making money using the biggest music streaming platform, let’s dive a little deeper into the details.
Earning Money on Spotify as an Artist
Singers and music artists around the globe are making attractive amounts of money via Spotify. If you want to kick start your career in the music niche and want to boost your earnings, you can sell your skills on the platform and get royalties as a profit.
In simpler terms, when somebody plays your music on Spotify, you get paid. However, your song needs to be played a specific number of times to be eligible for earning royalties.
The process might not be as simple as it may sound, but once you get a hang of it, there is no looking back.
Here is a step-by-step guide that you may follow to be able to start generating money with Spotify as an artist.
- Upload your Music/Content
Putting your music on Spotify is the first and foremost step towards earning money as an artist. You can get your music on the platform with the help of distributors who promote your song to millions of users around the world.
Distributing your work will help you to get your song featured in the app so that when people browse related keywords, your song will pop up in the list.
Distributors also help in putting up your songs in popular playlists with a huge number of followers. When users on Spotify follow these playlists, your song will likely get exposure with an increased chance of being played.
- Grow your Following
The second important step that you must consider when thinking of making money with Spotify is to pay attention to who is following you on the platform. You need to have a large fan base and must work to grow your following to get your work some exposure.
Leveraging social media channels including Facebook, Instagram, TikTok, and YouTube can prove to be beneficial to promote your work among the masses.
You can perhaps also make use of Spotify’s tools to promote your music among the public.
Setting up an attractive profile, adding up engaging images, putting up a biography, and adding other relevant information will help your fans to get familiar with you as a person and as an artist.
Creating catchy playlists that feature your songs is another good idea to get exposure on Spotify. Having a huge and actively engaged fan base will set the ground to generate income.
- Sign up for Spotify for Artists
If you are an aspiring artist and need to get a boost for your career, the best you can do is to join Spotify for Artists. It’s a valuable resource to get important insights into how and when users play your music.
Getting your hands on such details will help you understand the preferences of the users and increase your following on Spotify. Spotify for Artists also lets you connect directly to your fans through e-mail or push notifications within the app.
It’s undoubtedly a great medium to build a healthy professional relationship with your fans and keep them updated on your new releases, concert dates, and relevant news.
- Keep Publishing New Content
The more work you publish the greater the chances of making money on Spotify. Publishing more songs, albums, and EPs will also help in increasing your revenues
But don’t get yourself in a rush. Keep a hang of your previous work too. Keep uploading old unpublished tracks as it will help you in reaching out to a broader segment of the audience and ultimately generate higher revenues.
Top Ways to Earn Money on Spotify
Now that you know the basic steps to start generating money on Spotify, let’s look into the ways via which you can make money through the platform.
Earn Royalties from Streams
Royalties are the most common way to earn money via Spotify especially if you are an artist with exceptional skills. Every time people listen to your tracks, you will earn a specific amount of money in the form of royalties.
The amount of money to be earned depends greatly on how many streams a track gets and the geographical location where the song is played the most.
To maximize profits, you can get your tracks featured on several different playlists. The more playlists your song gets into, the greater the chances of earning royalties as more and more people will be listening to your work.
However, you should join hands with a distributor or record label as Spotify does not pay artists directly for their music streams but rather through a third-party channel.
Generate Revenues through Playlists
Besides earning money through streaming royalties, you can also make a good deal of profits through your playlists on Spotify. But you can only do this if you have a large fan following on your channel.
With a huge fan base on your side, artists and musicians can pay you a good amount of money to feature their tracks in your playlists. It’s an excellent way to earn a steady income as a side hustle especially when you are not directly into the business of making music yourself.
To get started, sign up for a Spotify account, and create a playlist. Add catchy and popular tracks and promote in on different social media platforms. Once your playlist gets a significant following, you can perhaps connect to different aspiring artists and rising talents and request them to pay you for featuring their tracks on your playlist.
It’s a give-and-take deal, where you offer them the promotion of their work and they will pay you with money for advertising their work.
Become a Playlist Curator
If you do not have a sufficient following on your playlists, you can then perhaps consider becoming a playlist curator. It will allow you to make some reasonable amounts of money through a playlist even with lesser followers on your side.
Becoming a curator means that artists and musicians will pay for creating playlists instead of paying you to feature their songs in your playlist.
Renowned record labels and popular artists who run short of time often request others to create playlists for them. You will be doing work on their behalf and get paid in return. Sounds interesting, isn’t it?
Distribute others’ Work
Spotify pays artists through distributors and record labels. Recently the platform added the option for users to become a distributor for their music and others as a measure to provide more opportunities to make money online.
If you are not a singer/musician/artist, you can still sign up on Spotify as a distributor and create a specialized profile under the distributor label.
After becoming a distributor, you can collaborate with other artists to upload and promote their tracks on Spotify and get paid in return.
Create a Podcast
Spotify has now launched a new premium version of the app for podcasters. It’s a good way for podcasters to earn revenues online.
Spotify for Podcasters allows you as a podcaster to offer your services to paid subscribers. You can monetize your podcasts and generate some extra cash from the comfort of your home.
You just need to create an account and upload your podcast for approval. After successfully joining the program, you can start offering your content to premium subscribers exclusively and get paid for it.
Become a Spotify Influencer/Blogger
If you aren’t interested in earning money by uploading songs or curating playlists, there are still plenty of ways to make money with Spotify. Blogging or in other words influencing others is a popular way to generate income with the world’s largest music streaming platform.
Writing Spotify-related blogs and influencing others on the internet to sign up for their paid services and products can help you make a decent amount of money per month.
You can sign up for Spotify’s Star Program or earn through adverts. However, the blog must have a significant amount of traffic to be eligible to generate money.
For a quick read on ways to make money through Affiliate Programs, you may click here.