RE: TIL: STEEM-SITE for Musicians & The First Record-Label to use Bitshares for Company-Shares (HOT HOT NEWS)
I'm wondering how the y handle the additional services required for artists to make money with their productions. The music industry may indeed seem to be a bit off balance regarding gross income from the consumer versus income to the artists, for productions. BUT, keep in mind, the artists world is highly competitive, and their are soooo many of them, artists need promotions (radio, TV, spotify etc), artists need management (they are usually not so good in self management, or business for that matter) and so on. That are reasons why the industry is what the industry is, more or less. I'm not saying this can not be done different, but it'll not be easy to change things and I think it'll take much more than a service for self distribution. BTW, Beatport, the number 1 digital music seller in the world in the electronic music segment, pays the artists (or it label) a much higher percentage of gross income over the traditional retail. BTW, streaming services like Spotify are struggling to make a profit with the 10$/mnth subscriptions, and they already have more than 20m users or so, and the artists are also not getting rich over their income from Spotify. Although not liked by artists too much, I always say: "for artists to make their money, they have to get out in the field, sell their performances for live shows". The times are over for artists to make most of their money through music recording and distribution through media other than live shows.
Hey, @edje. Our music label covers all the traditional industry standards for music promotion, what makes us different is that we accept digital currencies for these services. And, the music industry is currently shifting to digital. Digital music sales have officially surpassed traditional music sales, with a growth rate of 51%. The music industry is currently in a state of growth, which up until 2012 was declining. It's currently growing by 5.4% CAGR.And, in regards to music applications, Soundcloud made 60 million last year in profit off of subscriptions alone, so I'm not sure where people are getting these music app revenue figures from.
Thanks for your comment.