How Has the Music Industry Changed Over the Years?

As we approach the digital age and revolutionize technology and media, the music industry begins to change drastically. The great thing about music is that there are so many genres so it's really hard to not like music as a whole unless you just hate sound. The music industry has changed so much over the years. Some parts for the better, some for the worst, but the industry is one that will always be changing.

Personally, I love listening to music. On a yearly basis, I average about 150,000 minutes listening to music (that's a lot)! I think that music is a great thing and it's one of the things that are a must have in my life. I personally use Spotify and love the interface of it. Unfortunately, apps like these charge you if you want to listen to your music ad-free which I'm not a fan of. On top of the charge, they can also charge more if you want premium sound or an account with multiple users. You don't have to pay the artist but you do have to pay the streaming service. Also, there has been a surge in aspiring artists making it a more competitive scene. However, on the bright side of things, the industry is constantly releasing new music from favorite artists and these people also have the creativity to come up with new genres of music. 

My Top 3 Favorite Songs

1. Waves by Zeds Dead, Flux Pavilion, DeathbyRomy

Record Labels: Deadbeats, Altered States and Circus Records

Who Owns These Labels? Zeds Dead and Flux Pavilion

Spotify pays about .003-.005 cents per stream meaning about 3-5k per million. This song has 38 million streams. It costs me $5.99 a month to use Spotify Premium and they keep about 30% of the total earned from a song. Meaning the song makes about 114K, 79.8K goes to the artists and Spotify keeps 34.2K and my $5.99.

 

2. Animals - Radio Edit by Martin Garrix

Record Labels: Spinnin' Records

Who Owns This Label? Warner Music Group

Again, Spotify keeps my $5.99. This song has 250 million streams and with how Spotify pays, this song has generated about 984K! With Spotify keeping 30% they earn 295,200, leaving the record label with 688,800.

 

3. Hadouken VIP by Zeds Dead

Record Labels : Deadbeats

Who Owns These Labels? Zeds Dead

This song has about 1.7 million streams. Spotify earns my $5.99 and the song makes about 6800 in total. Spotify keeps 30% so they get an additional 2040 and the rest goes to Deadbeats which is about 4760.

 

 

photo credit : music

How the Music Industry has Changed for the Good

Music is a form of art. It is rapidly changing and there is always something new that can be done. Whether it's a new song with a new beat or an old one getting remixed, there are endless possibilities when it comes to music. Zeds Dead is popular for turning old classic songs into EDM remixes. It's a field that allows artists to express themselves and release their work so that other people can enjoy.

 

For example, in the article How Spotify Works: Business Model and Revenue Streams, the author states , "Spotify offers content creators significant exposure and branding benefits" (Daffodil). Users are given a free space to create and promote whatever it is and this is something that is continuously expanding in the music industry. More music is being introduced, allowing more people to join in and create their own music.

 

In addition, streaming services like Spotify focuses on all it's users. Listeners, advertisers and content creators. It's a great and diverse app that makes sure to take care of all it's users and this is something that is new. Before, streaming services were just businesses that allowed consumers to access the music they want but now, they have expanded their customer care to make sure they meet all their customer's needs. In the article How Spotify Works: Business Model and Revenue Streams, the author says, "Listeners are the main focus because they're the ones who enjoy the music, advertisers come in all shapes and sizes and content creators are important because they provide content"(Daffodil).

 

photo credit: Zeds Dead

How has the Industry changed for the worse?

Unfortunately, the rise of streaming services did also bring some cons to the industry. Since they make everything more accessible, they are the main ones responsible for the distribution of music rather than music companies. They make their money through subscriptions and advertising so now, the artist's receive a much smaller fraction of revenue compared to when music companies handled it.

 

In the Atlanta Institute of Music article, they state that "Streaming platforms like Spotify have become the primary source of revenue, leading to a tenth consecutive year of growth in global recorded music revenues, according to the International Federation of the Phonographic Industry" (IFPI). 
 
Also, the industry has also become very oversaturated. With the rise in popularity for becoming an artist, many people are aspiring to reach the fame of big artists, resulting in a much more competitive market. This can result in making it harder for unique artists to gain recognition. In Medium, the article says, "The ease of creating and distributing music digitally has led to an oversaturated market, making it harder for new artists to stand out and get noticed" (Medium).

 

photo credit : Rave

The Overall Change in the Industry

Overall, the industry is going to keep changing. Yes there have been great additions to the industry like the introduction of streaming services and how they make music accessible and create a more diverse environment for aspiring artists but with good there is also bad. Since streaming services have become the main factor in distributing music, they are the ones who keep most of the revenue, resulting in most of it coming from subscriptions or advertising which unfortunately also puts less money in the artists pockets. There is also an abundance of aspiring artists that make the competition extremely hard. Even if an artist had something that can go viral, it can be harder to gain recognition with this surge in artists.

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