In an age where moving major units is a rarity for most acts, it would be safe to assume the only acts making bank are the more renown of today’s stars- the Beyonce‘s, Rihanna‘s and GaGa‘s of the world.
However, in an report released by Pandora CEO Tim Westergren, it has emerged that capital generated from album sales and touring are no longer the bread and butter for many an A-List account, and now come second place to the power of internet radio.
Pandora Radio, set up in the year 2000, houses a unique software which allows consumers to tune into specific genres by simply specifying an artist or song of their choice- thus cutting the ‘sonic fat’ from the listener’s user experience.
This system, according to Westergren has now become so profitable, the company is already paying the likes of Adele, Wiz Khalifa and Coldplay over $1million each per annum for the use of their material.
However, in a blog released by the company yesterday morning, it is ‘Take Care‘ mastermind Drake and his Young Money boss Lil Wayne that are reaping the highest rewards, set to enjoy a total of $3 million each once pay day swings by.
The report reads:
“For over two thousand artists Pandora will pay over $10,000 dollars each over the next 12 months (including one of my favorites, the late jazz pianist Oscar Peterson), and for more than 800 we’ll pay over $50,000, more than the income of the average American household.
For top earners like Coldplay, Adele,Wiz Khalifa, Jason Aldean and others Pandora is already paying over $1 million each. Drake and Lil Wayne are fast approaching a $3 million annual rate each.”
This, coupled with figures earned from both of his studio releases and his recent ‘Club Paradise‘ Tour will undoubtedly earn the Rapper a spot on many a Forbes tally come next year.