The music industry makes more money but has more mouths

[boscy]

2-19-2021

The Financial Times UK

Opinion Media

The music industry makes more money but has more mouths to feed
Streaming has fundamentally changed the dynamic of the industry

by Will Page

The writer, formerly Spotify’s chief economist, is the author of ‘Tarzan Economics’ due out in April

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[Caviar]

Paywall

[†ealsünset]

Feb 19, 2021 23:26:50 GMT -5 Caviar said:

Paywall

Check the source code...it's all there.

Songwriter Fiona Bevan, who has penned hits for Lewis Capaldi and One Direction, went further, arguing “Right now, hit songwriters are driving Ubers” to make ends meet. The three major music labels, which make more than $1m per hour from streaming revenues, have defended the current model, which sees most artists receive a 20 to 25 per cent royalty on streaming. Because earnings go first to pay back any advance, that means an artist who receives an advance of £100,000 must sell £500,000 worth of music before receiving any fresh cash.