3 Predictions for the Over-Hyped Music Streaming Business
The music industry has drastically changed in recent years. We no longer live in a world where we anxiously wait outside of a record store to get a new album. In fact, we no longer want to buy albums at all. Today, streaming music is the go-to way to consume music. Companies like Spotify have begun to fill the needs of illegal downloaders who want to support artists but not have the pressure of buying the music themselves. Although Taylor Swift believes that music streaming is one large experiment, Cherie Johnson believes that it is here to stay.
Music Streaming has given a strong alternative to piracy, and now more and more companies are fighting to fit the demands of consumers. Although music-streaming is more in demand than downloading, there are still many questions about its future. How will competition between music streaming companies drive the consumer market? How will music streaming impact independent artists and their ability to get their music out to the masses? Cherie Johnson provides the answers to these questions with her predictions of the music streaming buisness on MusicThinkTank.com
"Already we have seen music sales decline to the point where, short of multiple streams of income, most less-recognized musicians are hard-pressed to earn a living by making music alone. Platforms like Patreon enable “fans to give support to their favorite creators,” which acts like crowdfunding. This financial support allows talented artists to meet their living expenses while creating their next piece of work."