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TuneCore Q2 artist earnings up 24%

TuneCore Q2 2016Digital music distribution company TuneCore posted its second-quarter results, which include $44 million earned by its members. That total marked a 24% increase from the same period in 2015, when revenue for artists was $35 million. Revenue from streaming rose 82%, with top streaming sources Tidal, Amazon Music, and Spotify all increasing their payments. International markets were also a key source of growth, with Australia revenue up 124%, Germany up 108% and India up 112%.

The second quarter of 2016 posted larger increases than TuneCore’s Q1 artist earnings. In the first three months of the year, TuneCore artists’ $42 million earnings were a 16% increase. The growth from some individual streaming services has also skyrocketed, with Spotify posting a 50% increase in Q1 and 89% growth for Q2.

Anna Washenko

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