Luminate’s 2024 Midyear Music Report reveals a rise in the number of middle-tier artists across various genres, based on data from 500 sources in 48 global markets.
In the first half of 2024, almost 30,000 artists achieved between 1 million and 10 million on-demand audio streams, up by 5.1% from the previous year. A total of 5,222 artists, on the other hand, reached 10 million to 50 million streams, up by 5.4%.
Middle Class Artists
Notable examples of middle class artists cited in the report include pop acts like 98 Degrees and Sofia Carson, rock artists Jack Harris and Seven Mary Three, and country stars Will Dempsey and Hunter Hayes.
Majority of these are also independent, according to the report. Around 62.1% in the 1 million–10 million streams range had indie distribution, while 37.4% belong in the same category in the 10 million–50 million streams range.
Major music labels have also expressed their strong interest in supporting these artists. Warner Chappell CEO Guy Moot expressed his interest in investing in this category of artists.
“We don’t just chase hits. I mean, we love hits, and we have a lot of hits, but we’re not just going out and buying every hit, chasing every hit. We often talk about the mid tier. I think in publishing we want people who consistently stream or slowly build. It’s going to be about fan bases and artist development.
“Those used to be fast-tracked by record companies, but that’s not so much the case now. I think sometimes you have to take a three-to-five-year approach if you’re developing, which many publishers do. Sometimes the economics of big label deals and the pressure that comes with that is too much. Not every artist is built for that,” he commented in an interview with Billboard.
Middle Class Artists Royalties Investing
Royalty Exchange is revolutionizing the music industry by allowing fans to invest directly in independent artists' catalogs. This platform allows artists to auction a portion of their music royalties to raise funds, offering fans a unique opportunity to earn income from their favorite songs.
The Luminate data reveals that 69% of lofi hip-hop listeners are more likely to agree that being the first to discover an artist is important to them compared to the U.S. general pop. And what a good way to show their support by purchasing royalty rights of emerging talent and potentially earn a return as the music generates revenue from streams, sales, and other uses.
This catalog of lofi hip-hop royalties is currently for sale. It features Shiloh Dynasty & itssvd’s hit single, “Losing Interest,” which earned $49,268 in the last 12 months.
The entire catalog’s current earnings year to date in 2024 is now at $62,354.
K-Pop is a Lucrative and Growing Market
Luminate’s report also highlighted K-pop groups' inclusion in the top 10 CD album sales in the US in the first half of 2024. Twice sold 158,000 copies with "With You-Th," while Stray Kids' "ROCK-STAR" managed to sell 109,000 copies. ENHYPEN's "Orange Blood" registered 97,000 copies, while SEVENTEEN's "Seventeen Best Album '17 Is Right Here' sold 90,000 copies.
K-pop fans should definitely check out this Royalty Exchange catalog that features seven tracks, including NCT 127's "Kick It," and Everglow's "Looking For Love". There’s a lot of potential ROI from this offer.
The seller purchased the catalog in October 2023 for only $30,500 and has already received over $10,000 in under a year in royalty earnings! That's a total yield of 32% in just 10 months. The best part about this catalog in particular is that it's still growing in earnings thanks to increased consumption on streaming and streaming video platforms. The past 12 months earnings are 33% greater than the 3 year average which is phenomenal growth.
New to Music Royalties Investing?
If you’re a fan of these popular artists, you too can start earning from music royalties. We’ve prepared this guide on Royalty Investing Made Easy to help you out.
At Royalty Exchange, you can choose from thousands of the most popular songs to invest in so you can start earning.
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