Guess how much Taylor Swift’s music streaming made in one week?
She may have toppled from Number 1 to number 49 on Forbes' 2017 highest paid celebrity list but Taylor Swift's bank balance is still slaying it in every sense of the word. How do we know this? In depressing news for almost every other musician out there (save for a few at the apex of the food chain, such as Beyoncé, Kanye, RiRi, Lorde and Drake), we now know how much money Taylor raked in after releasing her entire back catalogue onto music streaming services Spotify, Pandora, Tidal and Amazon two weeks ago.
Are you ready for this? The singer made 400k in just one week. I mean, we'd be happy to make that amount in a year, but this is Taylor Swift we're talking about - that girl can move records. At any rate, it's a triumphant bookend to her famous war on streaming services, which began in 2014 when she removed her music from the likes of Spotify and Pandora because she didn't feel they compensated their artists fairly. To be honest, she was right - it's been estimated that Spotify artists receive somewhere between US$0.006 and $0.0084 per stream, which means that if you're a small-time artist hoping to break through, you need a sh!t ton of listens to start turning a profit, especially after you've paid your manager, PR and record label fees.
If you can be bothered whipping out your calculator and doing some quick sums, you'll realise that 400k worth of streams in just seven days means there's an entire nation of Taylor Swift fans out there. And by withholding her music, the pop star created a crazy demand for it, perhaps even rivalling the fanbase of arch nemesis Katy Perry, whose new album dropped the very same day Taylor's back catalogue was released. (Coincidence? Hardly, but that's another story). We always knew Taylor was clever, but now we know how much her calculated moves really pay off.
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