The Economist Is The Latest To Recognize The Music Industry Is Thriving
from the nice-to-see dept
We've been making this point for years now, but as more and more evidence comes from the recording industry itself, it's nice to see mainstream publications like The Economist finally willing to admit that the music industry is actually thriving, contrary to the stories you keep hearing in the press. It covers many of the same data points and stories we've seen before, but highlights a few others -- including a rapper who set up a clothing line before he even made his first video, but is making more money selling clothes (which he wears in his videos) than selling music. As the article says: "Scorcher is not so much selling music as using music to sell. 'If you buy into me musically, you will also buy into the clothing and the lifestyle.'"The other thing that the article highlights is the absolutely thriving B2B side of music, where companies will sponsor musical acts, either for tours or other efforts. The companies get their brands associated with cool acts, while the artists get a nice chunk of cash. This is an area of the business that keeps on growing.
Unfortunately, despite all this evidence of a very strong music business, the article does revert to an odd interpretation later, complaining that the market is "greying," because only old people buy music any more. But, they point this out after they spend many paragraphs showing all of the other business models that artists can embrace to make money -- so I'm not sure why it matters that only older people now buy music any more. Selling music isn't the music business model any more, and it's time for everyone to recognize that.
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Filed Under: data, music, music industry
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What's going to happen...
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Re: What's going to happen...
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I think you missed the point. The biggest names of music right now ARE making money. They're making money through touring and charging more for concerts, leaving the labels behind as they fight on about piracy.
You also seem to forget the diversity in the music industry. Livestream, Myspace, Facebook, the list can go on for days or weeks if need be. Regardless, people are finding music, downloading artists songs, and supporting them through other means.
I'll just advise you to go and look at the CwF+RtB link at the top of this page. Perhaps, the industry needs to come to terms with the fact that promoting the artists is more important than promoting a song.
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And selling plastic discs is the music business? Point is they've always been selling something else...
The artists who do make any money, spend 90% of their time doing non-music things (marketing, internet, etc), so are they really artists anymore? This is not a healthy music industry.
[citation needed] Seriously, this has been debunked so many times it's not even funny. Were the musicians in the past spending too much of their time selling plastic discs rather than making money? No, of course not. They have other people selling the plastic discs.
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kinda sad
"Scorcher is not so much selling music as using music to sell. 'If you buy into me musically, you will also buy into the clothing and the lifestyle.'"
that quote assumes im a wannabee and a moron
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Re: kinda sad
Have you not met "The Consumer" before?
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Re: kinda sad
Wait, how is that any different than it's always been? If you want to sell plastic discs, you were still pimping for corporations, no?
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and how does the clothing industry do for copyright
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Besides musicians are in the "entertainment" business, furthermore music as a profession is not dying is being transformed as much as I would like to see Bono in a soup cue somewhere it ain't happening not only because he already have a lot of money but because he still are able to make a lot even if there were no laws to "protect" his ridiculous imaginary goods.
Take the "aparelhagens" in Brazil they sell entertainment, they don't sell music, they give that away to street vendors so they profit from it, they don't see a penny from that and they even have to pay for the discs themselves and still those aparelhagens make enough money to buy big trucks and houses, if you are not making money maybe is because you are not good enough, don't know how to do business or a lot of other things. The problem is not the market is the ability to some to recognize the opportunities.
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Shakespeare wrote "pop theatre" that appealed to he masses.
Only a delusional dreamer believes any artist making a living could ever be "about the art".
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If they object so much to doing that, there's nothing to stop them hiring a manager to do it for them.
"This is not a healthy music industry."
Yeah, the homogenised crap and karaoke contests that get passed off as real music nowadays is awful, and it will be nice when the major labels die and real creativity is allowed a real commercial chance again. Artists will become artists again and not mouthpieces of corporations who control every mainstream outlet. Thankfully, that's in our near future.
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Old people are actually buying less and less music as family and friends show them how to get music via alternate routes. Its a trend that is moving up the age groups at 2.5 years (+- a little) every year. At this rate in 10 years the music sales market (disk and digital) will have shrunk down to 10%-15% of what it is now, maybe less.
Sucks to be them ...
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Laughable
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Re: Laughable
Thrive? The industry as a whole has continued to make more money each year. More people in the industry are making money. More people are creating content. More content is being created. All of which are true.
Musician? Someone who makes music.
Now, if you could define "laughable." Thanks.
Also, if you could present actual data to contradict the findings noted in the article. Thanks.
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I Don't Know (or Care) About the Industry...
For some perspective:
Out of 11 grand, $40 (yes, forty) was earned from digital distribution. Still in Paypal acct, not sure what to do with it... part of me thinks I should re-invest in some Kickstarter project I find interesting.
I didn't make or sell one piece of merchandise (except for physical CDs) to earn the money, so it's encouraging to know that you don't *have* to sell t-shirts to make a livin...er...to make some money, I should say.
Most of that money came from doing musical things that didn't center around my particular band or art (which is more than fine with me). A lot of it was from scoring and live performance for theater-type things. A good bit from licensing for, I don't know what to call it, industry videos? (You know when there's music in the background of a "sexual harassment in the workplace" video seminar? Someone has to make it) And doing all kinds of "studio" work for bands. Mostly recording or mixing demos. Junk like that.
Interesting money came from weird places. In particular, I was paid $400 a day to sit in a home and play classical guitar while realtors held an open house. That was excellent and fun.
The most significant chunk came from my DJ gigs. I had a couple of excellent opportunities that paid *very* well on that front.
Live shows for my band didn't really make money. That's one myth I would like to dispel: except for very large bands, there really is *not* much money in live performance. Up and comers: DO NOT believe that you will be able to support yourself from live revenue. In fact, just trying to get a venue to pay you at all generally takes an act of god. If you don't have a manager... well, I don't and I can tell you that it's the WORST. You think teenage pirates piss you off? Just wait until you're almost coming to blows with a promoter who won't pay you because they saw everybody putting money in your tip jar and think you're earning enough as it is.
Also note: I work tirelessly at my music. I'm an accomplished classical guitarist, an active turntablist and by extension a DJ, and I've spent the last 15 years teaching myself the basics of recording. I try to spend at least 4 hours a day focused solely on music; practicing, writing, recording, etc. And all that comes AFTER I spend 9 hours at a day job. Glamorous it is not. It's very, very hard work.
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Doing something does something- looking for entrapreneurs
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Re: Doing something does something- looking for entrapreneurs
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