1.5 million Spotify streams per month needed for minimum wage? We've created a solution thanks to crypto!
Smart speaker Volareo wants to solve shortcomings of music streaming model
Amsterdam, 10 April 2018 — Spotify promises artists revenue through music streams. Nevertheless, to reach the level of a minimum wage each month a band consisting of several artists needs at least 1.5 million (Spotify) streams. Upcoming artists hardly benefit from streaming platforms, while being the ones that need an extra push in the back. Volareo, the world’s first smart speaker, solves that problem.
Nick Yap is the idea maker behind this innovative speaker, that gives listeners the ability to tip musicians with a single tap or a voice command. Yap is also one of the founders of Travis, a pocket-size translator that lets you speak in sixty languages. He also devised ROCKI, a gadget that turns amplifiers and stereos into a wireless music system.
Applause to Tip
Yap: “Per Spotify stream, an artist earns about 0.00072 euro cents. As upcoming artists, that is not enough to cover your living expenses. Volareo makes it possible for listeners to give a musician a ‘tip’. You support a musician with a donation, by pressing a button or by clapping your hands. This smart speaker ensures that you can tangibly support your favorite artist.”
Cryptocurrency for musicians: Musicoin
Payments to musicians are made via blockchain, digital and decentralized ledger system making direct & transparent micro-payments possible through smart contracts on Musicoin. Each play equals one musicoin, worth about ten cents. More than 2500 artists have joined this blockchain initiative and are already distributing their music on Musicoin.
“The blockchain ensures that listeners can communicate directly and transparently with their favorite artists. It’s not complicated: the speech recognition technology in the speaker makes it user-friendly, “ says Yap.
Get in touch with fans faster
Volareo not only gives lesser-known or upcoming artists possibility to equally benefit from streaming services, but also solves another problem. The speaker ensures that artists know who their listeners are.
“This allows you to respond even better to the wishes of your fans, for example by scheduling a tour in a city where many of your listeners live. The fact that you, as a beginning artist, come into contact with your fans much quicker, will hopefully contribute to making the music landscape even more diverse.”
About Volareo
Volareo is a smart speaker, which you control with an app or using voice commands. Artists get paid per stream, just like at Spotify. In addition, listeners can directly tip musicians. Artists get paid through a separate cryptocurrency, Musicoin. See for more info at: www.volareo.live.
*The Industry Observer:
https://www.theindustryobserver.com.au/many-streams-band-need-just-earn-minimum-wage
I wish it was 0.72 Euro cents. I fear it is even less than that. Here is a quote from this article:
I have earned more from Musicoin in just a few months than I have earned on Spotify the whole time I have been on there!
Hi @atomcollector. You're indeed right, we forgot a bunch of zeros. May as you, how much have you earned for how many streams? Would like to know if what's the gap moneterily. Also, do you have more streams on Musicoin or Spotify?
I use Distrokid and they do not make the revenue reports available until 3 months has elapsed so it's hard to know but the streams are similar bearing in mind I have been on Spotify for longer:
I certainly haven't earned $204 though and that's with Apple, Deezer, etc. included!
@atomcollector Oh wow! So the same amount streams but a much higher revenue. That sounds optimal. Well good luck with it man!
Btw, if you're interested, we've partnered with @musicoin and are building a smart speaker that makes the whole process frictionless. You might want to check our website and subscribe for developments (probably launching our coin too at one point). Here: https://volareo.live
Yes I have been following the updates and look forward to seeing it when it launches. Thanks!