Online streaming services have provided million of users worldwide the access of streaming their favorite artists and songs online. Giving users a massive catalogue of music to pick from and listen to. Major and independent labels would describe the service of online music streaming the “savior” of the music industry. But, are artist, both independent and signed getting the revenue they deserve?
Why Music Streaming Services Don't Help Performers Make Money Lifehacker Australia There are a number of arguments about the fairness of streaming services — for the services themselves, and for major labels, streaming is often hailed as the...
Alessandro Marquez's insight:
Though, Spotify and many other online streaming services may pay tens of millions of dollars each year to record labels in royalties and licensing fees, I do believe these online streaming services play a greater role as a platform than they do as a source of profit. But, I also believe that artists should get a fair share of the revenue. With the majority of the profit going to these record companies, where does all the money go, that’s another question to ask. Record labels need to remember that without the artist there is no record company, so there should be a reconsideration on how artists get paid when it comes to these online streaming services.
It’s interesting to see that Beats will be providing a music streaming service in the near future, and they’re a company who solely focuses on equipment, so it’ll nice to see the new transition they’ll be making into the market, since it seems like online music streaming services seem to be the place to go to look or to listen for new music. I think it’d be cool to see different companies provide services like this, it might ease a lot of tension we have in our music industry today between artist and record labels, if they get involved with new these companies and ideas, as it could be revolutionary the way we perceive music. Artists can also play a huge role in this; after all, it’s their music we’re listening to.
It’s good to see professionals in the industry, such as Nick Mason, accept the new trend the music industry is leaning towards, as it may be the future of music. I believe that to necessarily dedicate yourself as a fan is to go see your favorite artists in concert; as he explained, the money in today’s music industry is mostly coming from live shows, and above all, the experience is like no other. As for the music business, the industry has made a huge shift wholesale from recorded music to live. Though, shouldn’t music be about the experience? I’m not saying we should stop making records, but we consume music differently, and it’s more about seeing your favorite artists live in concert than buying their new album. Ultimately, I think the live experience is more valuable.
This week Spotify launched a couple of features that have marketing elements while expanding Spotify's presence on the web and deepening the content available to keep listeners engaged. Spotify Follow buttons allow you ...
Alessandro Marquez's insight:
I think the new features on Spotify provide great new assets for users all around. Though, how exactly will this benefit the artist? Seems like another marketing scheme for Spotify itself. One is able to follow their friends and their favorite artists, but that doesn’t change where the majority of the money is going to, which is to the major record labels. Because of these new features I think users will have the availability to find more new music, because they’re able to see what their friends are listening to and what their favorite artists are listening to, but that still leaves us in a gray area, whether or now these new features will actually help the artist.
The matter of the fact is, online music streaming services, such as Spotify and many others, doesn’t pay artist as fairly. Though, it may be a harsh reality, on the bright side, their music is being heard, and on the other side of things, artist are gaining new fans and new opportunities because of these new online music streaming services, because their music is simply but a click away, and anyone with internet access has the ability to listen to it. There’s still a grey area in all of this, but most importantly, their music is being heard, and there’s plenty of other sources for artist to make profit off of. But, artist should appreciate the fact that there music is being heard, because your fans are priceless.
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