Planet Money Planet Money Records Vol. 3: Making a hit
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Mar 18, 2023 The journey of promoting the song 'Inflation' takes center stage, showcasing its impressive streaming success and the challenges of turning it into a viral hit. The hosts break down the complex financial landscape of music, from streaming royalties to the intricacies of radio promotion and the historical practice of payola. TikTok becomes a key player in reviving the song, harnessing influencer collaborations and creative merchandise. Balancing the excitement of a vinyl release with harsh industry realities, this exploration reveals the hidden economics of music promotion today.
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Delayed Royalties
- Despite substantial streams, "Inflation" generated no immediate revenue due to the music industry's payment structure.
- It takes several months for streaming royalties to be processed and paid out.
First Check
- Ernest Jackson received over $1,000 in streaming royalties for "Inflation."
- The payment was part of a record deal designed to be more artist-friendly than the industry standard.
Stream Share
- Royalties are calculated based on stream share, not a fixed per-stream rate.
- An artist's stream share depends on their song's streams compared to all other streams that month.