TED Talks Daily How music streaming transformed songwriting | Björn Ulvaeus
Jul 2, 2021
Björn Ulvaeus, co-founder of ABBA and a legendary songwriter, dives into the transformative effects of music streaming on the industry. He reveals how songwriters are often the unseen victims in this digital age, struggling for fair compensation. Ulvaeus shares personal insights into the challenges of navigating the evolving 'song economy' and stresses the urgent need for reforms. He advocates for a new, fan-centric model to better support artists, ensuring that the creators behind the music receive the recognition and royalties they deserve.
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A Songwriting Memory
- Björn Ulvaeus recalls a vivid memory of songwriting, where lyrics seemed to flow effortlessly.
- He felt grateful for music's power to connect directly with hearts.
The Song Economy Paradox
- The music industry has become a song economy, driven by streaming.
- However, songwriters, the creators of these songs, receive the smallest share of the revenue.
Streaming's Double-Edged Sword
- Streaming has democratized music creation, enabling anyone to reach a global audience.
- However, it hasn't translated into financial stability for many artists, especially during the pandemic when live music ceased.