Since the ongoing development of technology, it’s no secret that how music is consumed has changed. Times are forever changing. Thanks to technology, the days of consumers buying complete, physical albums just to listen to one or two songs are long gone. Nowadays, music lovers would much rather stream their favorite songs from a subscription service or simply download their music. That same way of thinking is why people choose to stream movies from Netflix rather than rent them. People are also refusing to physically travel to casinos to play slots, instead they are choosing to use website such as such as Pokerstarscasino, not to mention the fact that you don’t even need to leave your house to grocery shop anymore. Nowadays, people are opting to have their groceries delivered by using Walmart’s delivery service. As technology continues to take over lives and streaming becoming the mainstream way of accessing music, here is exactly how the music industry has been affected.
Artists are no longer releasing albums
Since consumers can hear a smashing song nowadays and immediately download it from their favorite subscription service, there is absolutely no reason for them to anticipate albums anymore. Streaming services, such as Apple Music, Spotify, and Tidal are either free or charge a monthly fee, which makes royalties paid to artists even smaller. It has been proven that consumers only actually listen to one or two songs from a musician’s entire album, and with that being said, record labels and their artists aren’t focused on releasing albums, but instead, they’re dedicated to trying to reach the top of the charts with a hit single.
Artists’ revenue is no longer what it used to be
Music artists used to make a lot more money when album sales were at an all time high and when music videos were being played on television. It’s no denying that artists have noticed the shift. Big time rapper, Jay-Z, decided to start his own music streaming service, Tidal, in order to be in control of not only his music, but his revenue, as well. Today, his music can only be found on Tidal, which forces his fans to purchase a subscription, where he will be paid monthly for their access, as well as royalties from how much his songs are streamed. Jay-Z isn’t the only artist who has taken action in recent years. Back in 2014, Taylor Swift publicly removed her music from all free streaming service platforms. This happened after Apple Music reported that they would no longer be paying artists for streams accumulated during their user’s free trials. Shortly after Swift called Apple out, Apple announced that artists would, in fact, get paid, and today Swift’s music can be found on the platform.
Records aren’t making the charts
The effects that streaming has had on the charts, both worldwide and in the United Kingdom is astounding. According to the U.K. official charts, every 100 streams of a song is equal to one sale. This rule not only makes the chart inaccurate, but it is allowing the chart to be much easier to manipulate. Statistics show that only 86 songs entered the top 40 in the first half of 2017, which is a huge decline from a decade ago when that number was 230. This only proves that less artists are breaking into the charts which makes it much harder for new, upcoming artists to break into the mainstream music scene. The streaming of music allows for the charts to be manipulated, seeing as to how certain songs can be put into a playlist and played automatically without the user’s consent, versus if a user went and purchased a single, which would mean they actually like the song.
Record label income decreasing
It is so much harder nowadays for artists to make the kind of money that they once made in the industry. Music royalties are almost nonexistent and purchased MP3 downloads and album sales are steadily declining. Today, with over 100 million subscribers across different streaming platforms, it has proven to get the record companies out of their rut thanks to a percentage of streaming subscriptions and advertisements on artists’ records going straight to the record labels. Even though it’s not what it used to be, it is keeping the record labels afloat.
Many people would say that the streaming of music has actually saved the music industry, but the validity of that statement greatly depends on the record label in question, the artist, and the consumer. Streaming has definitely changed the world of music in more ways than one The focus on creating hit records rather than complete albums, the making money factor, and consumer satisfaction are all now major factors in how music is listened to these days.