Music streaming service Audiomack announced an extension of its monetization program to artists around the world. The Audiomack Monetization Program, which until now was only available in the US, UK, and Canada, is now available to verified artists in Nigeria, Ghana, Kenya, Mexico, India, Trinidad and Tobago, and Haiti.
Audiomack’s extension to other countries will be of benefit to both parties. Africa, for example, has a large music industry that presents opportunities for music service-providing companies, such as Audiomack. Nigeria and Ghana are known pioneers of the industry, and no doubt Audiomack sees the growth opportunities in Ghana, and Nigeria, where it already has an office. Expanding its monetization program into Africa’s biggest markets gives Audiomack access to Africa’s already happening growth.
On the other hand, Audiomack’s monetization program will allow artists to make money from their music and receive it directly from the Audiomack backend. Intermediaries such as record labels and producers are removed from the picture, and artists in Nigeria, Ghana, Kenya, and other listed countries, gain direct access to their streaming revenue.
After a successful beta testing in 2019, Audiomack opened its monetization program to all eligible creators based in the United States, Canada, and the United Kingdom in December 2020. As of March 2021, Audiomack had more than 17 million monthly active users, and its monetization program makes it the first and only digital streaming platform (DSP) that pays artists directly.
Many artists, both independent and signed, have voiced out about how digital streaming platforms have left them short-changed, as they are not paid directly, with too many requirements to be met. Artists also have to deal with their record labels, especially in Africa where complicated artists-label contracts are commonplace.
Initiatives such as the Audiomack Monetization Program could effect change in the music industry narrative. Power will no longer be concentrated in record labels, and independent artists can now have total control of their careers and make money from their music without necessarily relying on record labels and record deals. Any artist with at least two uploads and 1,000 plays can apply for an AMP authentication and continue taking payment.
Audiomack’s monetization program likely gives it a competitive advantage over other digital streaming platforms like Spotify, as more independent artists are more likely to subscribe to the platform.