Here we go with the current year update. This data set is isolated to the calendar year 2019 and represents a mid-sized indie label with an approximately 350+ album catalog now generating over 1.5b streams annually. Streaming is now a fully mature format, and it is also the number one source of revenue for recorded […]
Testament frontman Chuck Billy recently shared some depressing thoughts on Spotify and music streaming in general.
The band joined music streaming platforms despite believing that artist royalty payments are too low. During an interview on Underground Australia, Billy was asked to share his thoughts on the digital age. The answer was mostly a tale of gradually giving in after years of sinking monetization on digital platforms.
[Must read takedown of the “long tail” (aka utter shite) by the erudite Terry Matthews]
Unless you spent a lot of time listening to early ’00s techno-utopian babble, the Theory of the Long Tail probably means nothing to you. Yet if you live in the US or Europe and you run a digital music label, you’re living it – or the fallout from it – almost every day.
In 2004, Wired magazine editor Chris Anderson proposed The Long Tail, an economic theory blown up by futurist steroids. It theorized that with the introduction of the internet, blockbusters would matter less and everyone would sell “less of more.” The Long Tail prophesied “How Endless Choice Is Creating Unlimited Demand,” according to the subtitle of Anderson’s later book, which if true would turn the field of economics on its head.
For a practical example of what this all means, compare a brick-and-mortar record store like the old Tower Records vs. an online retailer like Traxsource. Your local Tower Records had to limit its inventory to take into account a finite shelf space. Their stock might have consisted of a couple hundred records. And each record didn’t get equal shelf space: your hippie boomer parents were going to buy more copies of Beatles records than all your Belgian techno records, so the store would stock and give more attention to the former. This “artificial” scarcity of physical products taking up physical space and depriving it from other products had bent consumer behavior out of shape for basically all of history.
…[W]e have a chronic abundance problem — one that dovetails into a much broader societal issue. Silicon Valley recognised that in a digital realm, you can have everything of everything. This is why we are all glued to our phones, because with infinite content — however facile — to hoover up, we gorge away; a fairly literal representation of Huxley’s “amusing ourselves to death”. This end result is not a positive step; we are burning ourselves out and mental health issues are constantly on the rise. Quite simply, we as humans were not made for an “always on” lifestyle.
With music, the same thing has happened. By giving us everything of everything, we overload and take nothing of anything, overwhelmed in the face of it all.
The majority of people who champion streaming are not your average artist, they are not even the top 10 per cent of artists. The advocators of the commentary we hear day to day are music industry press, mainstream press, the streaming networks themselves, aggregators and Digital Service Providers (DSPs) and of course users, who get an amazing experience of all the music in the world for 9.99.