WHERE IS MY MONEY?
WHERE IS MY MONEY?
According to one of the Power Players in the Music Industry, Mr. LA Reid, the Music industry in the next 15 years is going to be a 72-Billion-dollar Industry. In his book “Sing to Me”, he states that musicians will make more money than ever before…
According to Mr. Doug Morris, Chairman of Sony Music Entertainment, another Power Player of the Music Industry, this was a 30 Billion business it’s now a 15 billion business now.
However, he believes that it will be like it was before and be a robust and powerful music industry. Mr. Morris has no doubt in his mind that this is what is going to happen with the music industry.
WHERE DOES THE MONEY GO?
There seems to be lack of desire to evolve the business model of the music industry by the big corporations, their executives in benefit of who creates actually creates and performs the music, the songwriter, the composer, the artist and bands.
Like any species on the verge of extinction, like the dinosaurs, they have a firm believe that they are going to survive no matter what, because they are BIG!
Well we all know how that story ended and we are already having a prelude on how this one is going to end.
Either they evolve or they become extinct…
These big corporations are part of the old system, they have powerful big lobbies, that are against this reform and transparency. They are actively blocking it and will continue to block the change, since they’re the ones who are highly profiting from this criminal broken system.
What seems to be holding back evolution of the business model of the music industry? Why is transparency in the Music Industry has ALWAYS been an issue? Where is the majority of the money going?
It is a very profitable industry, but like many, we wonder why the biggest part of the money does not end up with the creator of the art?!
Transparency in the music industry environment allows the creator to see where his music is being used and how it’s being monetized and how he’s being paid for, it does mean that if you’ve created a piece of work that you have some knowledge of what’s happening and how you’re being paid. There’s a lot of artists, songwriters and composers being dissatisfied with payments from streaming services.
The old model restricts information for financial gain so if you are a corporation you have a vested interest in making money for you more so than you have making money for your potential client, in this case the musician, the artist, the songwriter or composer.
The New Business Model should be that record companies and publishers, should align with their artist so the interests of both are 100% aligned.
I really think that we are at the brink of a new dawn! That the Music Industry is going to do better than it ever before. Every year the profits of the Music industry have started to increase.
We must learn how to deal and collaborate with the tech companies. The digital business itself is a much better business model. There’s no manufacturing and there are no returns, so the margins are much better.
There are different and new organizations that are involved in getting the Music industry to become a transparent model because with that transparency, any smart person can get to the brilliant conclusion that the value of the music industry and the amount of revenue generated by it will be exponential greater than ever! And with that everybody wins.
For this to take place we need the industry to grow by working with and tech companies in order to develop technology to monitor and to process the data in an open transparent way were the artist, the songwriter, the composer, musicians and companies themselves can all see what is happening with the music released.
With digital, with technology you can process billions and billions of songs use and their sales more accurately and way faster.
By having the music flow into the market, properly supervised in a transparent way, the way we monetize will most definitely increase in revenue, with music be produced cheaper and accessible in more ways, to billions of people, and cheaper than ever before.
Does the future of the Music Industry shine bright like a diamond? Recording Artists, musicians, songwriters, producers and composers understand that the future is in DIGITAL.
There is great optimist in among the Music Industry. Nothing stays the same forever. The gate-keepers of the industry are trying to hold on to the their big share of the pie and unless there we continue to break the slave business model that has been running in the music industry things will continue to be the same.
There has been an increasing number of Super Stars, that have rebelled against the the system. This list includes names like Taylor Swift, Prince, Chaka-Khan, Ray Charles, Michael Jackson, Radio Head, Jay Z, to mention a few! All these people have worked actively on getting the Music Industry better!
Get involved, do your part, join the movement and together we can make this a reality. And remember to…