Major music labels earning over $12.5 million from streaming everyday – Dancing Astronaut

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While artists may not be cashing in a substantial amount the revenue made from streaming, a study done by Music Business Worldwide found that music labels like Universal Music Group, Sony Music and Warner Music Group are taking an astronomically large portion, cashing in at $9,000 for every minute streaming.

Digging deeper into the numbers, this revenue works out to $540,000 per hour, and $12.5 million a day. With the booming growth services like Spotify and Apple Music attaining a combined rate over 100 million paid subscribers, and projecting to hit $5 billion streaming sales in 2017.

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Major music labels earning over $12.5 million from streaming everyday - Dancing Astronaut