Analytics

Streams vs Royalties in Velveteen

Updated June 13, 2026

The short answer

Stream counts and royalties are two different things. The Streaming dashboard counts plays. Royalties are the money those plays earn, and they are reported separately from financial statements. The two come from different sources on different timelines, so they will not match.

This is the most common point of confusion. Here is how the two systems differ and where to look for each.

Two different measures

Streams

A count of plays, updated daily from platform reports, shown in the Streaming dashboard.

Royalties

Earnings from those plays, calculated from financial statements and shown in the Royalties and earnings area.

Why they do not line up

Per-stream rates vary by platform, country, and subscription type, so a stream count never converts to a fixed amount.

The two also arrive on different schedules. Streaming reports come in daily, while royalty statements are processed on a slower financial cycle.

Tip

Use Streaming to see momentum and what is getting played. Use Royalties to see what you have earned and can be paid out.

Where to look

  1. 1

    For plays

    Open Streaming under Analytics for counts, trends, and platform breakdowns.
  2. 2

    For earnings

    Open Royalties or earnings for statements, balances, and payouts.

Frequently asked questions

Can I estimate earnings from streams?+

Not reliably. Rates differ by platform, country, and listener type, so a stream count is not a dependable earnings estimate.

Why are my streams high but earnings low so far?+

Royalties are reported on a slower cycle than streams, so earnings for recent plays often appear weeks after the streams do.

Which number is correct?+

Both. They measure different things: one counts plays, the other reports money.

Where do royalties come from?+

From financial statements processed by the royalty engine. See the Royalties section for details.

Related articles

Where the data comes from

Daily DSP reports delivered through distribution, broken down by Spotify, Apple Music, YouTube, Amazon, and Deezer, scoped to your catalog and lagging a few days.

Overview

The Streaming dashboard: stream counts by track, artist, label, and release, where the data comes from, the few-day reporting lag, and how streams differ from royalties.

What royalties mean

Recording royalties and direct-sale credits flow to track shareholders. Publishing royalties remain separate.