Industry

How The Music Industry Is Adapting To The World Of Streaming Services – Forbes


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How healthy is the music industry in 2018, given the rise of streaming services? originally appeared on Quora: the place to gain and share knowledge, empowering people to learn from others and better understand the world.

Answer by Elizabeth Cawein, Founder/CEO, Music Export Memphis & Signal Flow PR, on Quora:

I don’t profess to be an expert on the music industry writ large, but I think a couple of things are inarguably true. First – there will always be a music industry. Artists will create music and will determine the best ways to monetize that music or, even better, the relationship they have with their fans. Next – the revenue models have been changing for a while now, and there is no turning back to a time before streaming.

Streaming – or some version of free music – started upending the music industry with file sharing in the early 2000s, and the reality is that music listeners now feel (and have for some time) that music should be free. Yes, it’s a major blow to album sales – but it’s not going to change. We can’t put the lid on Pandora’s box. Instead, we have to be smart about all the revenue streams available – from merch to touring to licensing – and put together a new business model that does not rely on physical album sales.

You do see this happening throughout the industry already, of course, and naturally you’ll find that smaller labels and independent artists have an easier time retooling the strategy and turning the ship around than major labels do. I’m not suggesting that we shouldn’t fight for better payment to music makers from services like Spotify or Apple Music – we absolutely should – but we shouldn’t imagine that we’ll ever have a community of music listeners again who are purchasing physical albums the way they did in the 1980s and 90s.

This question originally appeared on Quora – the place to gain and share knowledge, empowering people to learn from others and better understand the world. You can follow Quora on Twitter, Facebook, and Google+. More questions:

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How healthy is the music industry in 2018, given the rise of streaming services? originally appeared on Quora: the place to gain and share knowledge, empowering people to learn from others and better understand the world.

Answer by Elizabeth Cawein, Founder/CEO, Music Export Memphis & Signal Flow PR, on Quora:

I don’t profess to be an expert on the music industry writ large, but I think a couple of things are inarguably true. First – there will always be a music industry. Artists will create music and will determine the best ways to monetize that music or, even better, the relationship they have with their fans. Next – the revenue models have been changing for a while now, and there is no turning back to a time before streaming.

Streaming – or some version of free music – started upending the music industry with file sharing in the early 2000s, and the reality is that music listeners now feel (and have for some time) that music should be free. Yes, it’s a major blow to album sales – but it’s not going to change. We can’t put the lid on Pandora’s box. Instead, we have to be smart about all the revenue streams available – from merch to touring to licensing – and put together a new business model that does not rely on physical album sales.

You do see this happening throughout the industry already, of course, and naturally you’ll find that smaller labels and independent artists have an easier time retooling the strategy and turning the ship around than major labels do. I’m not suggesting that we shouldn’t fight for better payment to music makers from services like Spotify or Apple Music – we absolutely should – but we shouldn’t imagine that we’ll ever have a community of music listeners again who are purchasing physical albums the way they did in the 1980s and 90s.

This question originally appeared on Quora – the place to gain and share knowledge, empowering people to learn from others and better understand the world. You can follow Quora on Twitter, Facebook, and Google+. More questions:

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