According to Forbes, Spotify paid just over $500,000 (Rs. 728 crore) for 1.5 million stream in the period from March to September. “That’s not a huge amount – only $100,000 by our estimates. But considering that the average songstream is about a million views in a month and each account has about 800,000 users, it makes a huge difference to how quickly Spotify gets a huge amount of streams,” says Sanjay Kumar, Co-founder of The Chariot, a platform that delivers music playlists to the mobile.
For the average user, paying for a stream could be a bit disheartening, however. It is also important for the streaming platform to show their users some of the content that they have bought and that they enjoy.
Streaming content is increasingly becoming a priority for publishers, who want to monetise some of these streams, says Ashok Raju, Managing Editor for digital content at Publishers’ Weekly. “Publishers may want to get paid for the streams, which are a significant part of their income.”
However, publishers need to ensure that publishers will get paid after their users have paid them.
“A publisher knows that the user doesn’t want to pay for their stream, so they want to get paid. They could get some money after those streams are done, but they need to be sure that the publisher has a mechanism to take over after those streams have been done,” says Mr. Raju.
To ensure that the payment process is not a hassle for publishers, it is important for the platform to have a way for it to be done without the user having to give them any details.
“The user needs to provide their ID number, and the platform should then get the subscriber’s ID and credit card details and be able to do the payment via the payment form on the publisher’s website,” says Mr. Jayachandran, Vice President of Media Development, Facebook India.
However, unlike other social platforms like Twitter and Facebook, Spotify is not providing details of where the stream is being streamed.
“There is a small list of artists/musicians they want to work with and this is the location to be placed within that list. The user has to put it there. This way, the platform can work out with the user which content that they are interested in, and then they can go ahead and pay the content provider,” says Mr. Jayachandran.
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