Martin Mills, founder and chairman of Beggars Group, has revealed that the majority of its artists now earn more from track streams than track downloads - and that the label as a whole sees more than a fifth of digital revenues come from streaming services.
Speaking to The Guardian, Mills reiterated that the group currently pays artists 50% of streaming royalties and that Spotify comes top of its streaming income providers, leading the majority of Beggars’ digital revenues from streaming that cumulatively makes up 22%.
He explained that, although Spotify’s rates offer more per unit, YouTube provides the most number of streams.
Fellow indie Cooking Vinyl achieved significant growth in its artist YouTube views between February and November 2012 whilst its revenue from the platform more than doubled.
Its digital distribution manager Richard Leach revealed "Our revenue is growing month on month at a fantastic rate. It's unhelpful to get hung up on per-stream rates, and it's better to focus on the aggregate figure, which is really healthy.
“We're anticipating YouTube becoming our most important revenue stream in the future."