HITS Act Reintroduced in Congress (Billboard)
The legislation would allow creators to deduct 100% of recording expenses in the first year.
The number of artists who are making money from streaming is expanding dramatically. In 2020:
- 184,500 artists generated recording and publishing royalties over $1,000, from 89,700 in 2017
- 7,800 artists generated over $100,000, from 4,200 in 2017
- 870 artists generated over $1,000,000 from 450 in 2017
I'm not sure if the crazy amounts of money that creators are earning in the five, 10-minute spans of these wild opens -- I don't know if that's sustainable.