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| An article from the consequenceofsound.net highlights the negative revenue impact streaming is having on artists. Image courtesy of consequenceofsound.net |
A friend of mine
shared this article from the consequenceofsound.net. The
tweet from Geoff Barrow of Portishead, underscores the reality that artists are making a pittance from the shift to streaming subscription services. This isn't necessarily ground-breaking news.
We
wrote about this fact recently when streaming sales eclipsed CD sales. Taylor Swift has made this part of her rallying cry when she removed her catalog from Spotify. One of my friends, who has been in the recording industry for over 30 years as a songwriter and producer recently told me that while shift to streaming has made it nearly impossible for artists to make music a full time gig any longer.
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| Geoff Barrow's original tweet |
The Consequence Of Sound article makes a very valid point that a huge chunk of these profits are going to the rights holders and not the artists. If the artists themselves are indeed making somewhere in the neighborhood of $0.007 cents per stream then it's going to be interesting to see what the impact of the streaming model will be on future artists.
