Know your future streaming revenues
- How to create an analysis of your future streaming revenues and what information is shown
- Why this information is important for a musician's career planning
- Why iGroove provides this information free of charge
At some point in your career as a musician you’ll have to make important financial decisions. For these career changing steps, you need as much reliable information as possible. If it is missing, there is for instance the risk that you make a wrong deal which will bind you for a long time.
This is where ’Muse‘ comes into play. ’Muse‘ is an Artificial Intelligence created by iGroove that calculates the future streaming revenues of your releases.
Dennis Hausammann, CEO and Co-Founder of iGroove, explains:
“Originally, we developed ‘Muse’ to calculate the the highest possible advances that we can pay out to artists. It was only later that we realized how valuable this information is for the artists in itself. Therefore, we decided to make it freely available to them. Now every musician can see how much money he/she is likely to earn through music streaming in the next few years. This gives the artists more financial security and enables them to make better decisions. I think this is the most revolutionary thing iGroove has created so far”.
Analysis report for future streaming revenues
Here you can request a detailed analysis report, which lists your future streaming revenues.
The analysis is divided into three parts:
Backlog: Here you can see how much you’ll earn with your already released music in the future.
Future releases: Since the streaming income of upcoming songs can vary a lot, there must be at least five singles and an album with at least 12 songs including 5 singles to make a reliable forecast.
Forecast per release: In the third section you’ll receive a separate, detailed forecast for each of your older releases.
In all three sections you can see how much you’ll earn with your music in the next 6, 12 and 24 months.
Similar to the calculation of the advance, anyone can have this analysis sent to them. Even if you are not an iGroove customer. For non iGroove customers we only need temporary access to the Spotify for Artists profile to have enough data for the calculation.
How you benefit as a musician
The calculation of future streaming revenues is unique in the music industry and it helps artists with important career decisions.
Understanding the financial situation: As a musician, you probably prefer to be in the studio rather than working with Excel spreadsheets on your computer. As long as the money comes in, a musician doesn’t constantly calculate and reevaluate his/her financial situation. Thanks to our analysis, this is no longer necessary: without having to make calculations, you get a reliable forecast of your future streaming income and can assess your situation.
Planning security: Knowing how much you’ll earn with your music in the next six, twelve or even in the next 48 months gives security and simplifies the financial planning of the next steps.
Basis for decision-making: Concrete and reliable figures are enormously helpful in making important decisions. For example, if you are unsure whether you want to rely entirely on your income from music revenues, the forecast can help you make this decision. You can also see how much is still missing and how much you need to generate in other fields (concerts, merchandise, etc.).
Negotiation basis: The knowledge of future streaming revenues helps in negotiations with labels and distributors or in deciding whether an advance is actually needed.
Why does iGroove provide these numbers free of charge?
iGroove was founded with the purpose to help as many musicians as possible to increase their income so that they can live from their art. Thanks to the forecasts, we now know if this goal has already been reached or how much is still missing.
Another cornerstone of iGroove’s philosophy is transparency. We are doing well when our artists are doing well. That’s why we only want to offer services that are effective. You can only decide which services currently make sense to you if you know your financial situation. Disclosing your predicted future streaming revenues to you should help you to make better decisions for your career.
As a further development of the analysis report, iGroove will release an app where you can check the forecasts for your releases at any given time. The future streaming revenues of your releases will be recalculated every night on the latest trend data. Additionally, we’ll offer you a preview of your next payouts. Since the stores have different payment schedules, it’s sometimes difficult to predict which part of the sales trends will be paid out when.
In a first step the app will be available for iGroove customers only, in a later version it will be available for everyone.
Do you have any questions about our analysis report?
Contact our support at [email protected] or write us in the chat.