Saturday, May 24, 2014

2014's Big Story

Almost halfway through 2014 and the Music biz's biggest story, according to my Twitter and Facebook feeds, seems to be streaming royalties.
Everyone can agree that people aren't buying physical albums or digital singles like before.  But listeners have discovered the wonders of streaming.  Everything right there on your smartphone, Ipad, laptop, computer, etc., for a mere $10 a month.  Right now, I subscribe to both Rhapsody and Spotify, although I don't know why I need both.  Rhapsody was first, so I'll stay with it for a little while longer.

For someone who listens to a lot of music, these sites have become essential habits.  But I use them mostly to stream albums.  Others are using them, like they would Pandora, to stream from those sites' radio stations.

Yet, I'm amazed at the lack of revenue artists are getting.  Oh, and I should note that Sony, Warner and Universal are suing SiriusXM and Pandora for back royalties, as those channels don't pay for any pre-1972 songs played.  How crazy is that?

My hope is that as streaming continues to climb, that these companies will pay what is owed.  You can generate thousands of plays and get paid less than the minimum wage.  This is going to continue to be the big story of 2014 and next year.
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