The Music Industry Analysis
Music has been around for ages and has influenced multitudes of people culturally, socially, and economically. Music brings people together, and likewise can separate them. In the United States, music is easily accessible. With the technology we have today, music can be heard with the click of a button. Today, the internet has become greatly influential on how music is spread amongst people. The internet (e.g. streaming services online) is affecting the music industry in positive and negative ways with the amount of money or revenue being brought in. To listen to a song today, you don’t have to buy or download it. You simply stream it. (Woodruff, “Can the Music “) According to PBS’ Judy Woodruff, “that has led to a profound shift in the industry
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An example of when the music industry declined in record sales was during the great depression when free radio broadcast was introduced. (Taintor, “Chronology: Technology”) Last year, there was a 9% decline in album sales (e.g. CD’s) ,a 12% decline in downloads, but a whopping 54% increase in revenue for streaming services. (Hari, “Can the Music”)The music industry is a 7 billion dollar industry where streaming services has changed the way artists make a living. (Cash, “Can the Music”) A streaming service is subscription based and every time the song of an artist is listened to, the artist is paid less than half a dollar because its divided between the record company, songwriters, publishers, and performers. An example of how an artist is making money in the streaming service world is given by Hari Srinivasan when he interviews Rosanne Cash, daughter of the famous Johnny Cash, and she says that for an 18 month period she had 600,000 streams and she was paid $104. (Cash and Srinivasan, “Can the Music” ) Another example is that Aloe Blacc, a famous artist, wrote that it takes about one million songs played on Pandora, a popular streaming service, for a songwriter to earn just $90. These examples show that artists are making pennies from their songs. Because of this, artists are depending on big tours for big pay other artists of course don’t mind and just want to play the songs. (Knopper, “The New Economics”). This
An example of when the music industry declined in record sales was during the great depression when free radio broadcast was introduced. (Taintor, “Chronology: Technology”) Last year, there was a 9% decline in album sales (e.g. CD’s) ,a 12% decline in downloads, but a whopping 54% increase in revenue for streaming services. (Hari, “Can the Music”)The music industry is a 7 billion dollar industry where streaming services has changed the way artists make a living. (Cash, “Can the Music”) A streaming service is subscription based and every time the song of an artist is listened to, the artist is paid less than half a dollar because its divided between the record company, songwriters, publishers, and performers. An example of how an artist is making money in the streaming service world is given by Hari Srinivasan when he interviews Rosanne Cash, daughter of the famous Johnny Cash, and she says that for an 18 month period she had 600,000 streams and she was paid $104. (Cash and Srinivasan, “Can the Music” ) Another example is that Aloe Blacc, a famous artist, wrote that it takes about one million songs played on Pandora, a popular streaming service, for a songwriter to earn just $90. These examples show that artists are making pennies from their songs. Because of this, artists are depending on big tours for big pay other artists of course don’t mind and just want to play the songs. (Knopper, “The New Economics”). This