Snoop Dogg revealed how much money getting one billion streams on Spotify translates to, and he is disappointed, to say the least.
The veteran rapper went viral just a few weeks ago when he successfully pranked everyone that he was quitting smoking. Now, Snoop Dogg has become a social media current affairs conversation piece again after he recently revealed how much he made off Spotify for surpassing a billion streams. The rapper had a recent appearance on the Business Untitled podcast, where he sat down for a conversation with hosts David Barry, Mel Carter, and Mike Novogratz. The podcast focuses on topics like investing, marketing, business deals, crypto, and so on, and the rapper and businessman was delighted to be a part of the conversation.
Snoop spoke on a number of business ventures that he is working on, including his 1994 hit “Gin and Juice” inspired cocktail. The California rapper partnered with Jimmy Iovine and Dr. Dre for the release of his new and improved gin and juice, which he says will be available for sale at the top of 2024. Snoop is also the co-founder of a live-streaming app called Shiller, which he announced earlier this year in March.
The app allows content creators to eliminate industry intermediaries when receiving earnings using crypto and NFTs. This is one of many lines of NFT business that Snoop has been involved in over the last few years, and during his time on the podcast, he revealed that his son Cordell actually introduced him to the crypto world. Previously, Snoop has been involved in a number of NFT collections, and he is even Chief Ganjaroo Officer of Roobet, which prides itself as the crypto’s fastest growing casino.
The live-streaming app is in direct competition with other streaming platforms where creators opt to share their content, but it separates itself from the market with the use of Web3 technology, which, unlike its predecessors, aims to eliminate middlemen like social media monopolies and give creators control by offering full ownership of their content and monetization as well. “We went in based on us building relationships with all of these creators in this new space,” Snoop Dogg explained. “That gave them the freedom to control the narrative, and not have to pay Apple 30 percent… but to directly get it, sell it, and re-sell it.”
On the topic of his competition in this particular industry, Snoop began to shed some light on the increasingly popular subject of revenue earned from streaming platforms. More specifically, he revealed what he got from Spotify when he hit one billion streams. “In the streaming world, I could show you right now, they sent me some shit from Spotify where I got a billion streams,” the rapper began. “My publisher hit me. I said, ‘Break that down. How much money is that?’ That sh*t wasn’t even $45,000.”
Snoop has joined the long list of artists to recently speak out about how daunting it can be to make money from streaming as the platforms tend to pay shillings even for a decent amount of streams. Philly rapper Meek Mill even came out recently to vent on social media about the “biggest scheme to date,” a.k.a. record labels, amidst going fully independent as an artist. “It’s not possible to make money off .003 a stream from your favorite fans,” the rapper said at the time.
Now that so many more artists and creators are focusing on going independent and eliminating the middleman, is it only a matter of time before these big industry machines become obsolete?