Business Wars Best of Business Wars Daily | An Unfinished Song | 6
Sep 1, 2022
Join Brittany Spanos, a Senior staff writer at Rolling Stone, and Naima Cochrane, a music journalist and former record label executive, as they unravel the complexities of the modern music industry. They discuss the economic struggles artists face in the streaming era, the fallout from Neil Young's controversy with Spotify, and the evolving definition of superstardom. Insights on the industry's push for social justice and sustainable practices reveal a transformative landscape, where artists must navigate new challenges for fair compensation and empowerment.
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Streaming Economics
- Major record companies profit immensely from music streaming, generating millions hourly.
- However, overall revenue remains lower than during the CD era, causing industry anxiety.
Artist Discontent
- Most artists do not significantly profit from streaming platforms.
- This inequity leads artists to explore alternative revenue streams.
Spotify vs. Neil Young
- Neil Young's ultimatum to Spotify over Joe Rogan's podcast content led to his departure.
- Other artists followed suit, impacting Spotify's market value and prompting Apple Music to capitalize on the situation.