According to Jeremy Erlich Spotify’s Global Head of Music, the platform receives 60,000 new tracks each day. That’s 22 million a year or almost 1 per second. Competition is fierce and subject to the variable parameters, an artist may require 500,000 streams per month just to make US$1,500.
The current social media culture of instant gratification means attention spans are shorter than ever before. For example, Instagram Story currently has a maximum 15 second video limit. This means the first few seconds of a song can make all the difference between a hit, or being skipped.
In today’s highly competitive music world, it is becoming increasingly more important for artists to be multi-disciplined, surrounding themselves by a team of professionals who understand how to create effective social media campaigns and can advise on artist development, lucrative income streams, distribution and licencing options.