The state of the Music Industry is not
what it use to be. It has forever changed. Everything has changed within it
from getting your foot in the industry down to maintaining a high-end image.
The biggest change that has been very noticeable and made public is the new
changes in revenue. Specifically regarding the revolution of the “Streaming
Industry” and the monies revolving around it. The biggest problem is the
compensation of the artists, songwriters, labels, and publishers versus the
revenue these streaming companies make. The business model is a shaky one,
broken in my opinion. This dates back to the pay rates that were previously set
by the government, which I believe, is in need of a make over. It seems
unbelievable that if you have
1 million streams your compensation is a fractionof 10 percent of the revenue it brings in which ranges from $6-8K, and that is
coming from Spotify. It gets worse if you are getting paid from Pandora , you
will be getting a fraction from 10% of a much smaller income. For Pandora 1
million streams will bring in the revenue of
$1,650. It completely does not make any sense. The factors and
variables involved are very great, it matters if you are the artist,
songwriter, label , or publisher. Different roles introduce different monies.
However with all that stated, I believe the
Music Streaming services we have can help rebuild and revitalize the once
“Glorified Music Industry”. There is that possibility of entering a new golden
era in music. With streaming we are discovering more and more talented artists
all over, in a speed that traditionally didn’t exist. The streaming world opens
up to the masses. You are able to have a better and greater range of Artists
that you can connect with.
“Streaming is here to stay”. We as a whole need to
sit down and come with better terms that respectfully benefit both sides of the
Music Industry as a whole.
