Artist Music – Drake earned 5bn streams last year – more than any other artist in the world. Photo: Ross Gilmour/Getty Images
The world’s biggest record companies – Universal Music, Sony Music and Warner Music – have clawed back their money as changes breathe new life into a music industry already devastated by falling CD sales and rising piracy.
After facing financial trouble a decade ago, the trio control some of the world’s biggest shows and an array of talent ranging from Taylor Swift, Ed Sheeran and Coldplay to the Beatles, Adele and Korean megaband BTS. A further $100bn (£73.8bn) of investment was bested at the banking giants.
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“Undoubtedly, music is a luxury business,” says Mark Mulligan, analyst and managing director of Media Research. “Advertising money is improving in many ways. Music now seems to be stagnant, so that major marketing agencies are flooding into the space because they see mass as safe and predictable. But they want to invest in big companies and major labels. A share of the market, they have a lot There are artists – the big ones – they have multiple streams, everything.”
It’s a steady gold rush that has sent shares in Universal Music – the world’s biggest music company floated earlier this month by its French parent, Vivendi – soaring, valuing the business at €45bn. Bought by Sir Leonard Blavatnik for $3.3 billion in 2011, Warner Music, the world’s third-largest music company, has grown to a $22 billion market cap since its float last year.
Big music companies can use their muscle to take advantage of great deals from streaming services like Spotify. The basis of negotiating power was shown in a report published by the Intellectual Property Office last week, which showed that the top 1% of artists have 80% of all streams, and the 10% have 98% of all fans. .
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And for the most popular music, major music companies have three times more rights than independent labels in the top 10%. In any given week, nine out of the 10 best-selling songs in the world — the cash cows are pouring in — belong to one of the three biggest music companies.
The success of big music companies has been criticized and questioned by MPs’ select committee on the economy, which this summer called for a “complete overhaul” of royalty payments to musicians, concluding that major acts are the only labels. Making money from the current system.
“Viewing has become a very important part of our output, and obviously it can provide good opportunities and open doors for music – but without good pay for songwriters and musicians it can’t help but continue to be abused,” singer-songwriter Eliza Shaddad she says . “Playing is the future of music and so more needs to be done to help artists build sustainable careers.”
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Drake, one of the top 1% of artists working with Universal and Warner and has a net worth of hundreds of millions of dollars, earned over 5bn in revenue last year, the best of any artist in the world.
However, according to the IPO, the number of UK artists managing more than 1 million domestic streams per month last year was around 720. After deducting a lot of money, this will leave the singer with £1,500 a month, according to media research.
The IPO acknowledges that there are around 12m streams a year in the UK, as well as in overseas markets, as well as “other sources of income”, all of which are necessary to “make a sustainable living with music”. “The movement grows when you have billions, millions, of streams,” says Mulligan.
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The pandemic has shut down the music industry, on which many artists depend for much of their income, leading to scrutiny of the details of their contracts regarding their income.
“[Many] artists can’t even afford a cup of tea from the show,” says Tom Gray of the Gomez Group, founder of the campaign group Broken Records. “Most, with the exception of the most successful or flavor of the month, have a small or fixed audience once launched. 99% of artists don’t see the value of streaming and the economy doesn’t have to work that way.”
Critics of streaming say that the number of subscribers to music platforms such as Spotify, Amazon and Apple, which grew from 86m in 2015 to around 550m by the end of this year, continues to decrease the average price paid per month. They are at affordable prices.
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At the same time, the digital age has made music production easier: there were 5 million new musicians last year, and 65,000 new songs are uploaded every day.
All of this means that their income is not growing fast enough to cover the higher salaries for many musicians and artists. The IPO report found that just under half of UK musicians (47%) earn less than £10,000, with 62% earning less than £20,000.
“It just serves the collective—great music groups and audiences that keep growing,” says Gray. “Let’s face it, the odds are against you.”
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However, IPO research also provides a broader picture of winners and losers during the IPO period. The report found that musicians are now making the same real income from recording rights as they did in 2008 – before the internet – and artists’ income from physical and digital sales has increased by 42%, up from 8%. Increase in the growth of corporate income.
“The share of revenue that artists and songwriters command in the advertising economy is far greater than the share they earn from CDs and downloads,” said Geoff Taylor, chief executive of the trade association, BPI. “The idea that artists aren’t getting their fair share of streaming, we’ve never heard that reflect what’s going on.”
The report found that 68% of musicians surveyed by the IPO said their net income had stayed the same or increased since 2015 and despite this the standard of living for the top band was better at an average of £51,800 a year. Artists spend years paying record fees to produce, market and distribute their music.
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Taylor says the democratization of the digital age has produced many success stories. Around 2,000 artists hit 10m UK streams last year, which is seen as the equivalent of selling 10,000 albums, double the number that sold the most copies in 2007.
“A lot of artists are doing better in the streaming economy than the CD economy,” he says. “But there are also some downsides, because there is so much in the market right now. I think streaming has been good for both small and big players. If we can bring in more revenue from streaming, it will benefit everyone and grow. The ad economy Price.”
This article was last updated on 2 October 2021. The IPO report found that 47% of UK musicians earn less than £10,000 and 62% earn less than £20,000; Not that 64% earn $30,000 or less, as previously reported. This last number only applies to income from music., Ohio – When you talk about the greatest era in music, the same names start to come up – The Beatles, Bob Dylan, Elvis, James Brown, The Rolling Stones, etc. .
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Artists composed mostly different types of music. But what happens if you separate them. We picked out the main genres of music and debated who was the best at each. Subgenres do not count. So, there is no good grunge, heavy metal or funk. And we decided not to pretend to know much about classical music.
Instead, we broke down the genres of rock, soul, reggae, country, folk, pop, jazz, blues, hip hop and electronic music. G.O.A.T Results Any color can surprise you or (laughs) drive you crazy. But what’s new?
Let’s start with the blues, which is probably most responsible for the genre that the world will come to know as rock and roll. There is B.B. King, the artist who, perhaps, when you think of the blues, comes to mind. Bessie Smith opened the door for every female artist who came after her. Eric Clapton and Stevie Ray Vaughn kept the genre alive as its popularity waned. And, of course, Robert Johnson, he’s probably the most legendary person in the history of music. That’s not to say, Howlin’ Wolf, Buddy Guy, Son House, W.C. Handley, Willie Dixon, Albert King, Freddie King,