Does The Streaming Industry Need A Reset?
A group of British legislators are calling for a rethink of the music streaming business model. Why? Because they want all artists to receive a more equitable portion of the profits.
According to a survey, 92 per cent of artists earned less than 5% of their income from streaming in 2018. When you consider how much money platforms make, this result is staggering. Moreover, streaming contributed over $11 billion in music industry revenue in 2019.