- How do artists make money?
Artists on TempoTrader make money in two ways. The first is by selling Tempos to their fans. The more fans are willing to buy Tempos for, the more artists can sell them for. The second is when fans trade Tempos. Every time fans trade, the buyer is charged a 5% commission. TempoTrader takes 1%, and the other 4% goes to artists.
Heres an example:
You sell your Tempos
You sell 10 Tempos for $5.00 each and earn $50.00 in total.
Your Tempo price goes up over the next week because they are in high demand.
Now fans are willing to buy your Tempos for $5.20.
You sell 10 more Tempos at $5.20 for a total of $52.00
Fans trade your Tempos
A fan buys a Tempo from another fan for $5.00.
The buyer is charged an extra 5%, equal to $0.25.
You make $0.20 in fees on this trade.
TempoTrader makes $0.05 on this trade.
- Can artists lose money on TempoTrader?
No! You don’t have to pay anything, and you can’t lose any money. TempoTrader is just a source of extra income for you.
- How can artists increase their income on TempoTrader
There are a few factors that contribute to your income on TempoTrader.
One major factor is your Tempo price. The higher your Tempo price, the more the 4% commission you make on every trade will be. If your Tempo price is high, that means your fans are willing to pay more for Tempos. This means when you sell Tempos, you can sell them for more as well. All in all, a higher Tempo price will make you more money. See “How do I increase my Tempo price?”
The more fans trade your Tempos, the more you will make from commissions as well. Encourage new fans to buy Tempos by advertising the perks of owning your Tempos.
- How do I increase my Tempo price?
Tempo price is a reflection of how much your fans want your Tempos. There are a lot of factors at play, but we can point you in some of the right directions.
Private audio - Fans buy your Tempos to become part of the private community that you create. The better the private audio and the conversation around your private tracks, the more attractive that community will be. This means fans will be willing to pay more for your Tempos, and price should rise.
Scarcity - The less Tempos you sell, the less there will be in the market. Remember, you don’t have to sell all of the Tempos we release to your account. For example, If you only sell 20, but you have 500 fans that want them, your Tempos will be scarce and prized. People will not be willing to sell them for cheap, and price will rise. In the meantime, you could be holding on to the Tempos we release to your account to sell at a later date!
Promotion - The more you get your fans talking about TempoTrader, the larger the market for your Tempos will be. If there are a lot of fans trying to buy your Tempos, that will create the scarcity we talked about in the point above! See “How can I promote my profile?”.
- How can I promote my profile?
Talk about it. There is a link on your Tempo page that you can share through Facebook, Twitter, Instagram, and any other channels you use. Tell your fans about it at shows. The better you are at spreading the word about your TempoTrader profile, the more you can raise money through TempoTrader.
- Do artists have to pay to use TempoTrader?
Nope! Artists never have to spend money on TempoTrader. Just make an account, start posting private content, and get your fans to buy your Tempos. All the money you make will be in your wallet. You can transfer it to your bank account anytime you like.