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Record label boss accused of being in “cloud cuckoo land” after music streaming comments


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Record label boss accused of being in “cloud cuckoo land” after music streaming comments

By Nick Reilly

 

GettyImages-901831728-696x442.jpg

Spotify. CREDIT: Getty Images

 

The boss of one of the UK’s leading record labels has been accused of “living in cloud cuckoo land” after he claimed that artists were happy with the existing music streaming model.

 

The criticism came as the bosses of three major labels –  Universal, Sony Music and Warner Music Group – delivered evidence to a Digital, Culture, Media and Sport (DCMS) Committee inquiry which is investigating the economics of music streaming.

 

David Joseph, the chairman and chief executive of Universal Music, told the inquiry that artists were “very happy with the investment, very happy with advances” they currently receive, which prompted immediate interruption from the SNP MP John Nicolson.

 

“I think you’re living in cloud cuckoo land here if you really believe that,” said Nicolson, per The Guardian.

 

Full Story: https://www.nme.com/news/music/record-label-boss-accused-of-being-in-cloud-cuckoo-land-after-music-streaming-comments-2860814

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It's probably harder to be a newcomer in the music industry today, than before.

 

Today most income comes from performance – which of course is difficult at present due to the ongoing pandemic, but generally is limited to available venues and fees paid – before a musician could make an income from unit sales (i.e. vinyl, tape or CD), and also from being songwriter, which many musicians are today, with copyright income on top.

 

Today unit sales, and even downloads, has become limited, overtaken by streaming, paying very small fees to both record companies, musicians and songwriters.

 

Radio and TV still makes some income, mainly to authors, i.e. songwriters and their publishers (like Universal Music Group).

 

Looking at the statistics, they shows that the peak in music industry was just before 2000, however it seems like streaming is beginning to recover some of the loss, probably also caused by people accept to pay for streaming either by fee or advertising, like for example Youtube has started with. But it's difficult to be a new artist and moving up in the top level of suggested streams.

 

The best graphs I quickly can find shows until 2017 and 2018...

30-years-of-music-sales-2.png

 

physical-vs-digital.png

 

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