Lately there are a lot of rosy articles in the media touting the benefits of streaming as the answer to all the music industry’s problems, while conveniently forgetting that non-performing songwriters are still suffering as a direct result of the typically low and contested royalty payouts for songwriters and publishers.
It was with this expectation that we read the “3 Myths About Streaming… And 3 Truths About the Music Industry Today” article published in yesterday’s Music Business Worldwide..
Pleasantly, we were surprised then to find that this article expresses some objective truths about streaming companies and the consumer trend in general to access their music this way.
The author specifically sites the value gap in video streaming services [such as YouTube - not mentioned by name], and the fact that contrary to popular propaganda, the album format is far from dead.
We especially love the “Truth #3: Music Is Now The Disruptor, Not The Disrupted” in relation to technology.
Perhaps this signals a turning point where legislators and consumers are starting to listen to the songwriter voices who are expressing their concerns about the predatory practices of some of streaming’s largest companies.
Songwriters are the creators of the song commodity in which streaming companies trade. Without taking care of them, there will be no sustainable solution to the music industry’s problems.
Thanks, MBW for covering these important and inspiring comments from Warner Music Group’s Chief Digital Officer and EVP of Business Development, Ole Obermann at the Reeperbahn Festival.
Please read the original article in its entirety here: 3 Myths About Streaming… And 3 Truths About the Music Industry Today on Music Business Worldwide.
