Streaming has become increasingly popular in the music industry, but it's also changed how those in the industry get paid.
Streaming platforms like Spotify, Tidal or Apple Music have made it easier than ever to listen to and discover music, but they have also disrupted how people in the music industry make money.The answers to this question run from the seedy age of music piracy to today's headlines about artists like Bruce Springsteen and Stevie Nicks selling their music catalogs for millions of dollars.
"Previously, if you bought a record or CD, or you downloaded a song, that was a one-time purchase, and the artists got paid big lumps, or you know, a relatively larger lump sum payment all at once," said Liz Moody, an entertainment lawyer. Now, part of the reason the industry got here is because, for a while, a significant amount of people weren't paying for music at all.
So streaming did solve an issue, but the disruption of companies like Spotify has led to other problems. This coupled with the fact that it takes a lot more work now for musicians to stand out from the noise of the internet in order to be discovered almost forces musicians to do much of their own promotional and marketing work to attract an audience.
For all of the frustrations streaming has caused for musicians, it's also significantly increased the commercial value of music overall, especially for private equity investors who now see music as a recurring revenue source that can be counted on for years.
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Charles Payne: You have to be in the market for a real chance to change your life'Making Money' host provides advice to investors.
Read more »
Tesla Now Makes More Money Than GM & FordTesla is now making more money than General Motors and Ford. This was pointed out in a recent article by The Street
Read more »
CA online sports betting initiative would direct money to help homeless, mental health servicesAccording to the Californians for Solutions to Homelessness and Mental Health Support, the group has gathered enough signatures to place the initiative on the November ballot.
Read more »
State Supreme Court affirms Dunleavy decision that drained fund for Alaska college scholarships - Alaska Public MediaThe decision means the Alaska Performance Scholarship program and WWAMI do not have a dedicated funding source and must compete with other programs in the state’s annual budget process. (via adndotcom)
Read more »
Workforce program seeks to give participants $1,500 in emergency fundsAn unexpected surplus of sales tax revenue funding is making it possible for SA Ready to Work to provide more money to job seekers.
Read more »
Here's How to Save More When Inflation Makes Your Money Count LessDuring inflation, here’s how consumers can adjust their spending and saving strategies to help lessen the impact that inflation has on the value of their money.
Read more »