A Quote by Jenna Wortham
Generally speaking, the business of music streaming is treacherous at best: Consumers don't seem to want to pay big money for access to digital music services, so companies must keep the fees low.
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Music was everything. But what the digital revolution has done, with streaming services and downloads, is take the value out of music. When things lose value they lose their meaning.
I was always kind of against streaming, but I've been traveling so much, and I usually carry a huge hard drive of digital music with me, but I haven't had time to deal with it, so I've been doing streaming. And I had this incredible breakthrough of weightlessness where I've really been loving streaming music.
In the developing world, they don't have smartphones yet. They have the older plastic phones, but women are saving money on those, because they don't have access to banks. Having that access to digital money changes everything for her because she actually doesn't have to negotiate with her husband, which she will tell you is very hard in these circumstances, especially when the means are meager. She's expected to have money to pay for the kids' health or to help with the school fees.
There's definitely some sort of dissent brewing between record labels, publishing companies and artists [about the compensation they get from streaming services] Spotify is returning a HUGE amount of money [to the record labels]. If we continue growing at our current rate in terms of subscriptions and downloads, we'll overtake iTunes in terms of contributions to the recorded music business in under two years.
In the increasingly digital world, data is a valuable currency, yet as consumers, we control and own little of it. As consumers, we must ask what big companies do with our data, a question directed to both the online and traditional ones.
I think there is a big difference between the music business and music. And my relationship is to music, not music business. I think the business will keep changing, but music won't. Music will be there.
There is a terrible thing that's been happening probably for the last 20 years or so and it's called the music business. And music isn't really business; it's work and you got to pay and you've got to buy your guitar or go into the studio. So there is a business side but when people say, "I'm going into the music business," it's not. It's about expression. It's about creativity. You don't join music, in my mind, to make money. You join it because it's in you; it's in your blood stream.
In the Internet world, both ends essentially pay for access to the Internet system, and so the providers of access get compensated by the users at each end. My big concern is that suddenly access providers want to step in the middle and create a toll road to limit customers' ability to get access to services of their choice even though they have paid for access to the network in the first place.
You know that one don't play music just for the hours to pass. But you play music because you are in love with music and luckily if it happens that people like what I'm proposing, then I'm happy. Although music is business, yet you don't start thinking about money from the initial stages when you are in music. First propose to the people what they want and if they like it, then the money comes later.
The companies aren't hiring, because consumers don't have enough money to buy the goods and services.
I think the cool thing about being alive in 2017 is that you can literally put out music as soon and as frequently as you want to because of streaming services.
Music for me is something I prefer to keep away form the whole business part of my life. I feel like everything I do, in a way, has some sort of business around it. So with my music I can have my privacy. If people don't have to pay for it then I think they can be a little more open to new ideas.
About 1990 there was a huge shakeup in the music industry and the 6 major record companies fired all the music people and hired business graduates to take over the spots. So the music became not as important. What really became important was the bottom line, how much money you could make.
The biggest challenge is self-financing 100% of everything. Recording costs, studio time, engineer fees, travel costs are all a part of the creation process. Then after the creation, there are producer fees, mixing, mastering, photo shoots, artwork, packaging, artist feature fees, legal fees, clearances, and so on that must be covered before any music can officially be released to the public.
Some people see streaming as a bad thing because of the royalty amount paid, but as more and more people get on these services and stream music all day long, you'll be able to generate quite a bit of income from streaming.
For a number of major companies, if you can't access the commercial markets, you can't fund your business. That's a big problem. You can't pay your bills.
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