As the music industry endures yet another shift in consumption, the streaming services that provided a reliant alternative to piracy are beginning to weigh down heavily on the musicians that receive very little money for plays. Via The New York Times:
Even for an under-the-radar artist like Ms. Keating, who describes her style as “avant cello,” the numbers painted a stark picture of what it is like to be a working musician these days. After her songs had been played more than 1.5 million times on Pandora over six months, she earned $1,652.74. On Spotify, 131,000 plays last year netted just $547.71, or an average of 0.42 cent a play.
“In certain types of music, like classical or jazz, we are condemning them to poverty if this is going to be the only way people consume music,” Ms. Keating said
For web entrepreneurs like Sean Parker, anxiety over royalties is understandable, but it’s the future regardless. He believes that this model will eventually bring the music industry back to full strength.
“I believe that Spotify is the company that will make it succeed,” said Mr. Parker, who is also a former president of Facebook. “It’s the right model if you want to build the pot of money back up to where it was in the late ’90s, when the industry was at its peak. This is the only model that’s going to get you there.”
If Parker wasn’t the one who destabilized the music industry in the first place with Napster, we might be more inclined to listen.