We all know the music industry isn’t in a good place right now. Sales are down and artist are not happy. So it made me think? Why don’t the Big 3 (Universal, Warner & Sony) just come together and make their own streaming service with all their music, instead of sharing profits with Spotify and Apple Music? I don’t get it.
Film/TV industries have their own dedicated services like Netflix, HBO Max, Disney+, etc. They don’t have a middle man taking a cut like Cable. Obviously, the Big 3 would need to come together to make this happen. Having 1 music service strictly for just 1 of them is a bad idea.
I just think Spotify & Apple are benefitting from this way more than the labels. And with Spotify paying HUGE amounts to the likes of Joe Rogan 😒. It’s kind of a slap in the face of the industry that MADE them this big. Like why is the Talk Tuah podcast getting just as big of bags as the labels & Artist? I know Jay Z tried his own service ran strictly by the artist called Tidal like 10 years ago, but he couldn’t get enough big artist to invest into it long term.
Can someone PLEASE explain to me why the Music Industry allows this?
i see a lot of comments saying how the current situation is better than if streaming platforms became fragmented like TV, but part of why streaming services for TV became so popular is because TV and movies are things you don’t often return to- aside from a few favorites, you might watch a show or a movie only once every five or ten years, whereas you listen to your favorite music over and over and over again. imo if Spotify were to collapse, it’s less likely that people would shell out a fortune for WB+ and Sony+ and more likely that they would just go back to buying an album every month or two, which is a win win because it’s cheaper for them and way more money going to the artist. hell, even if 98% of people just went back to limewire and 2% started buying music again, that’s still ultimately way more money for artists
Correct, the main selling point for music streaming services is about having one place where you can find all your favourite music. It’s acceptable if you don’t find all the Star Wars stuff on Netflix - you can either watch other shows or movies instead or subsribe to Disney until you’ve seen it all, but a music streaming service with only the content of one or two major labels would probably be less attractive for many people, because they would only get a limited amount of music / artists. Also for the record companies it could mean higher cost (for maIntaining their own streaming service) and potentially lower profits.