The Value of Music

music, music business, music industry

How much do you value music? It’s pretty amazing that the conversation about people consuming music for free is still happening. We live in a world where people pay $4 for a cup of coffee once, sometimes twice, a day yet won’t stump up $9.99 a month to listen to virtually any release they want. It’s crazy!!

This isn’t about money and getting rich, it’s about worth. The music we make has worth, or at least it should. Yet people are happy to disregard that and listen to a shit quality version on YouTube (and in most cases sit through an ad before it) instead of paying a pretty small fee (in the scheme of things) to consume music on demand and through their subscription pay the people who own those songs. Why does this happen? When did music stop being that thing we spent hours talking about or digging through new releases in record stores? (or online- how many people these days actively try to discover new music on iTunes or Spotify etc?). How have we become a society that will pay $6 for a bottle of water but won’t pay for art that can change your mood instantly, help you re-live memories and take you on an emotional rollercoaster? (thanks Jay-Z for that analogy).

People see the value in movies and TV shows- they’re willing to pay for subscriptions to cable, premium TV networks, online streaming services like Netflix and Hulu- so why not music? Why are we spending $60-$100 on video games, $30+ on TV boxsets, $700 on iPhones, iPads etc yet won’t pay for music? It comes back to worth- people don’t value music anymore and that’s a shame.

We’re pretty sceptical about TIDAL’s re-launch being the savior of artistry as some have branded it. It’s not really changing the game- it will still pay out the same percentages (have a look at the Jay-Z article above, they don’t talk specifics and essentially say if you have a record deal you’re still beholden to the crappy terms of that deal anyway). But what it is doing is bringing streaming to the attention of listeners who may not have been thinking about it. The downloads business model is dead, it didn’t work. It may have sustained the transition music was going through as it moved online but streaming is where it’s at. It’s now all about volume, MORE PEOPLE MEANS MORE MONEY. Vania Schlogel of TIDAL even said so in the aforementioned article that it’s about growing the pie (or pizza as she described it). As the size of the pie grows so does everyone’s slice. Netflix has more subscribers than all music streaming subscription services, when music catches up with TV and Film the money will come back.

We just need people to value music again. You can’t get a good glass of wine for less than $10 and for that price you have a month’s worth of music. From now on it’s all about drilling that message home. Music needs to be valued again. So much goes into making music (as you’ve hopefully seen from our site) and it’s about time we showed the artists and creators that we appreciate the work they’ve put in.

-HS

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