TuneCore Passes $2 Billion in Revenue
TuneCore, the digital music distribution service provider for independent artists, has passed the $2 billion mark, paying its roster of independent artists an average of $1.2 million per day, according to an announcement from the company, which states that TuneCore and its parent company Believe distribute approximately one third of the world’s digital music.
The company reported $1 billion earned by artists in July 2017 and just over three years later, TuneCore artists have reached $2 billion (since inception).
TuneCore enables independent artists to distribute their music to the company’s network of over 150 digital stores and streaming services across the globe, including Spotify, iTunes/Apple Music, YouTube Music, Amazon Music, TikTok and Deezer. Artists retain 100 percent of their sales revenue and rights for an annual flat fee.
Said Andreea Gleeson, Chief Revenue Officer, TuneCore, “We’re here to help artists connect with and develop audiences while maximizing their digital music revenue – this is our core mission. We’re showing that indie artists can gain a huge fanbase and make a lot of money with TuneCore. We never use a middle man and pay 100% of 100% of revenue from the stores directly to artists, unlike other distributors, many of which claim to pay artists 100% of their revenue, but in fact are distributed by or affliated with third parties, who take a percentage off the top. TuneCore is empowering indie artists, now more than ever, to say F it and take control of their own careers, there’s little holding them back anymore.”
Independent artists generated $873 million in 2019, up 32% from 2018, according to MIDiA Research.
Matt Barrington, Chief Operating Officer, TuneCore said, “Here’s the thing – TuneCore artists have earned $2 billion, and this is only the beginning, with many new artists turning to TuneCore every day. It proves that giving artists the control, allowing them true independence is a very powerful and positive thing. And it also turns the traditional music industry model on its head.”
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