Music Streaming is Here to Stay
This week streaming internet services like Pandora received some good news from the government. It looks like the heavily debated performance royalties may end up lower than previously expected, much to the chagrin of artist and labels. The Copyright Royalty Board has allowed the webcasters to include a number of negotiated rates as evidence for why the government should lower the statutory rates paid to performers when their music is played online. But this is not all bad for artist… On one hand this will likely reduce money paid to artist (on a per stream basis). On the other hand, this will likely keep streaming services in business, which is good for artist as it is currently the only way artists get paid for people listening to their music on the radio.
So what are two major takeaways?
1) Artists need to find new and innovative ways to make money from their music and celebrity.
2) Streaming music is here to stay (CD’s and radio antennas are on sale at your local thrift shop).
Cue PredPop now!
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