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Songtwist
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Music streaming is up, but the royalty inequality between the major labels and artists is getting worse. Artists only receive approximately 17% of recorded music revenue. And out of that, the top 1% of artists receive about 80% of streaming revenue. Only looking at the earnings of record labels is an extremely poor indication of how the overall music industry is doing. Does anyone realize how awful those numbers are? Spotify isn't to blame for everything including global warming, but their royalty distribution model is certainly a huge factor. 1 person playing Rihanna on repeat 1,000 times is worth exactly the same as 1,000 people listening to Rihanna once. For example's sake, if the top 1% of artists accounted for 80% of all the song plays on Spotify, that means approximately 80% of everyone's subscription goes to those artists, regardless of whether the individual listener played their music or not. I digress, but if you want to talk about distortions, talk about the biggest distortion of them all. How all this money that's pouring into the music industry is ending up straight in the pockets of major labels, and NOT in the hands of the people who actually made the music in the first place. Good luck to the major record labels when there are no more artists for them to exploit. What would any of these companies be without them? This wasn't meant to be a plug, but I am building a music service to solve exactly this problem (https://www.songtwist.com/). It might not be big today, but the way you eat an elephant is one bite at a time.
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Sep 1, 2016