Showcasing its ability to drive revenue for musicians and composers, TuneCore today announced that artists who distribute their recordings through the platform have earned over $34.1 million in the first quarter of 2014 alone. The revenue was generated from nearly 1.3 billion downloads and streams, a 75% increase over the same period in 2013.
TuneCore also disclosed an impressive 190% growth in royalties collected through TuneCore Music Publishing Administration in Q1 2014 compared to Q1 2013. The increases demonstrate TuneCore’s significant position in the evolving business of music as the company continues to enable artists to successfully be in command of their own careers. An infographic with data and highlights is available at http://www.tunecore.com/index/artist_milestones
Expanding Global Distribution with New Store Partnerships
In addition to delivering gains in revenues to artists, the company also showed considerable momentum in securing new distribution partnerships, providing artists even more opportunity to get their music heard by more people around the world. In 2014, TuneCore has already added four new stores to its expansive distribution network: Bloom.fm, Guvera, Akazoo and Anghami. The new additions offer exposure to new potential fans in some of the world’s fastest-growing markets including Australia, Indonesia, Malaysia, the Middle East and North Africa as well as throughout the UK and US. The company’s substantial distribution network now enables TuneCore Artists to get their music out in over 200 countries and territories worldwide.
Driving New Opportunities for Royalties with Publishing Administration
The first quarter of 2014 also saw 190% growth in revenue to TuneCore Music Publishing Administration clients, who benefit from the company’s unique solution for worldwide composition registration and royalty collection as well as YouTube monetization.
In Q1 2014, TuneCore also drove revenue for clients through TV and movie placements thanks to the company’s proprietary Sync and Master Licensing Database and in-house Creative team. Some of the high-profile placements include:
The Black Box: ABC TV’s new medical drama debuting on April 24, 2014
New Girl: FOX Network’s hit situation comedy starring Zooey Deschanel
Hoovey: Upcoming movie release from EchoLight Studio that retells the inspiring true story of athlete Eric “Hoovey” Elliott’s recovery from a near-fatal brain tumor
America: Documentary by Dinesh D’Souza debuting July 4, 2014
Applauding TuneCore Artists’ Successes
No celebration of TuneCore’s accomplishments is complete without recognizing the artists who the company is dedicated to supporting. For the second year in a row, over 1/3 of the 2000+ acts performing at the annual SXSW Music event in Austin have distributed their music through TuneCore. TuneCore Artists are also taking center stage on television; this season 14 performers chosen for The Voice teams partner with TuneCore.
“TuneCore’s continued growth is proof that the music business is alive and well. It’s just changing from what it was 50 years ago, and that’s a good thing,” commented TuneCore President Scott Ackerman. “We’re proud to be at the center of the democratization going on throughout the industry and to have such an important role, both in getting music out to potential fans worldwide, and ensuring the artists who make that music can maximize their earnings.”