Real quick, I work for a tech company that specializes in encrypting data. We are launching a new platform soon (March 1st) where we will encrypt audio files so they cant be pirated and allow artists to sell them. Its called MediaCoin, its a ETH token, and I have some posts about it in the past. Visit our website: https://mediacoin.stream/
Anyways, I was doing some market research and I came across this article I'm posting below. It showed how it is for artists to deal with audio media platforms like Soundcloud and Spotify, and how they suck the money out of the whole system before it reaches the artists.
https://ids.uni.edu/loudsoundlogic/how-do-artists-make-money-on-spotify-soundcloud/
I am pretty decent at singing and know how to play guitar but I've never really tried to record anything, let alone sell it. I had no Idea that you make so little per play if you do try to sell it on there yourself. If you don't own the rights on Spotify for instance, you immediately lose 70% of what little revenue you DO make.
On Soundcloud, you have 3 levels of membership you can be a part of that make you absolutely nothing no matter the amount of plays, and one level you FINALLY get paid at thankfully.... oh wait, you have to be invited to that.
Overall, if you are looking to monetize your music to supplement a $2.37 a month coffee habit, you are probably good to go. If you want to actually make some money with your talent... not such a great option =/