Here’s the thought I can’t escape.
That’s still 3,600 streams for £120 a year. Which would have seemed ridiculous in the CD or even pub jukebox era.
If my maths are right, that would be 3.33p per stream. Streaming services could keep the 0.33 for their trouble and any money from people who don’t listen to all 300 credits a month. And the artist/label would get 1.5p and the songwriters/publisher 1.5p.
That still feels like a pittance given how much we all value music but it’s a start, no?
FYI - this was roughly the suggested royalty rate per stream when we closed our podcast back in 2006. Similar, if memory serves, to what you would get minimum per track for a free covermount CD with 20 tracks on it.