The future of the music industry
Q: How can a musician make money?
CD / Vinyl Sales
song downloads
concerts / touring
writing songs for other artists
selling merchandise
songs used in games / movies / tv shows
writing songs for companies / TV commercials
Q: How do you think the music industry has been changing in the last 20 years?
Q: What happened in 1999?
In the UK in 1999 the average concert ticket price was £23 (3,100yen). How much was the average concert ticket price in 2019?
In the UK in 1999 the Glastonbury Festival ticket price was £83 (11,300yen) for 3 days. How much was the concert ticket price in 2019?
2019 average concert ticket price = £57 (7,700 yen)
2019 Glastonbury Festival Ticket (3 days) = £248 (33,700 yen)
Q: How much money do you think an artist gets if they sell their CD for $10?
Q: How much do they get from selling a download of the album?
$10 CD revenue split
artist - record company - website
Q: How is money split from a $10 album download (from itunes)?
$9.99 album download revenue split
Q: How many songs does an artist need to sell on itunes per month to earn as much as a McDonalds restaurant worker?
Q: How many times does a song need to be streamed on Spotify to earn as much as a Mcdonalds restaurant worker?
Answers:
sell 12,399 songs a month on itunes
the song must be streamed 4,053,110 times on spotify
10 ways the music industry will change in 10 years
Q: Do you agree with the writer’s opinions in the article? Why or why not?
1. Physical sales will be dead completely (CD, Vinyl)
2. More artist RESIDENCIES. Already common in Las Vegas, music artists will perform 5-6 nights a week in the same city for a few months.
- touring
- family
3. Record labels will be a thing of the past
Q: What is the purpose of a record label?
4. Companies (like Coca Cola) may start signing artists
- promote their journey on social media
- mutually beneficial
Currently: United Airlines, Air Asia, W hotels, Steve Madden (fashion brand), Loud Robot (JJ Abrahams movie and TV production studio)
Q: What was the first brand to do this in 2003? (Hint: big Japanese company)
- In 2007/2008 Starbucks, Redbull, Proctor and Gamble and Mountain made
their own record labels.
- all of them except one failed so no brands did this between 2006-2016.
Q: Which label survived?
5. Hit songs have a longer chance to be popular if they’re not successful at first
- social media / tv shows / films / commercials
6. VR will play a big role in the music industry
7. Songs will be written by A.I.
Beatles style song: https://youtu.be/LSHZ_b05W7o
Nirvana song: https://youtu.be/GogY7RQFFus
8. Artists will need more than their music to become superstars
9. New genres of music will become popular
- hick hop / chicago bop
10. Fans will choose the Soundtrack for TV shows
- Netflix has already been experimenting with this.
Viewers can choose a band or genre and songs play later in the show
2. Popular with older artists because touring is tiring and artists want to spend time with their families.
3. Record labels were traditionally responsible for finding up and coming artists and developing their careers by providing marketing and distribution support. Now an artist can market themselves on social media
6. VR concerts and festivals for international or rural fans
sources:
https://www.vibe.com/photos/10-ways-music-industry-changes-10-years
https://investinganswers.com/articles/who-really-profits-your-itunes-downloads
https://www.nme.com/features/rock-songs-written-by-ai-bots-nirvana-metallica-the-beatles-2691875
https://www.musicbusinessworldwide.com/more-and-more-corporate-brands-are-starting-their-own-record-labels-again-will-they-last/