Long gone are the days of CDs, cassettes, and Walkmans. Music streaming services combined with smart devices are taking over the world these days. Hundreds of millions of dollars are floating around the industry as the musicians turned to Spotify, Deezer, and similar apps to sell their music. You can also use smart devices for football betting odds.
Questionable Business Model
However, the UK government has some suspicions. Thus, they are running an inquiry to see if the artists are getting their fair share of the pie. And, according to DCMS, the initial signs aren’t positive. In fact, the situation is so bad that, by DCMS, the artists are getting just around 13% of the full income. This is an eyebrow-raising number confirming that the situation is worth investigating.
Just like the radios controlled who gets the attention in the past, the smart algorithms are doing it today. However, it’s uncertain whether the algorithms favor some artists over the others. At the end of the day, the musicians themselves are the ones making the creative part happen. But, with the algorithms taking over, the up and coming ones are finding it harder and harder to find their way to the top. At the moment, it seems as if good marketing and big names are far more important than good music and dancing vibes.
The investigation took place mostly because artists are now fully relying on these services as the COVID-19 pandemic struck. With no live concerts to hand onto, it’s all in the hands of the industry giants, often a bad sign for the future.