Odd Lots The Real Reason So Many Musicians Are Frustrated By Spotify
Apr 1, 2022
Damon Krukowsky, former drummer of Galaxie 500 and insightful music business writer, shares his frustrations with Spotify's opaque royalty system and its impact on independent artists. He delves into the economic challenges musicians face today and the disconnect between streaming platforms and artists. The discussion highlights the complexities of how music gets discovered and the ethical dilemmas of promotional practices. Krukowsky also addresses the rise of 'fake artists' and the implications of AI-generated music, unraveling the modern music industry's intricate dynamics.
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Bankruptcy and Learning the Business
- Galaxy 500's record label went bankrupt, and their contracts were put up for auction.
- Damon Krukowski learned the music business by necessity, negotiating to regain their rights.
Major Labels Disrupt Indie Scene
- Major labels entered the indie music scene, disrupting existing independent networks.
- They offered deals that prioritized commercial success over artistic control, often leading to debt and dropped artists.
Hits vs. Lemonade Stand
- Major labels operate on a 'hits' model, similar to venture capital, where few successes fund many failures.
- Independent labels function like small businesses, prioritizing sustainable profits over explosive growth.