By JOHN DALY
The music industry has changed radically over the years. Of course, a lot of this comes down to digitalization. Once upon a time, if you wanted a band’s new album, you would have to go to the store on the release day of a vinyl and pick it up from there. Now you can access Spotify online and you can instantly listen to the release as soon as it comes out. This has paved the way for music and it has also made it much easier for people to enjoy bands without having to spend a fortune. That being said, some wonder if Spotify is killing the music industry, by cheapening artists and forcing them to let their songs be streamed for a small fraction of what they’d normally get.
It’s Not Just the Music Industry that has Been Hit
It’s not just the music industry that’s going through this. The casino industry has also been radically transformed by this. If you look at Las Vegas for example, you’ll soon see that everyone flocked there at one point as it was a hotspot for gambling. Online gambling has since taken over and provided a much more affordable way to bet without having to leave the house. Sites such as NetBet are now getting bigger by the year as the result of this movement. That being said, casino sites are not killing the casino industry. In fact, they are spurring it on. Why is it not the same for the music industry?
The Resurgence of Vinyl
The one thing that is keeping the music industry alive right now is the rise of vinyl. People who are collectors will often choose to buy vinyl records as it provides a much superior quality of sound. If you go to anyone who collects records, they will tell you that the sound cannot be achieved by simply streaming Spotify songs, because the quality of the audio is lowered. This is to ensure that there is enough room on the platform to accommodate a huge amount of songs.
What about Bands?
So as mentioned above, it would seem that bands are the ones who are truly losing out. Bands are the ones who come away with a lower paycheck as the result of Spotify streams. Labels always make sure that they get enough money to make it worth their while, but artists on the other hand seem to be hit the hardest. The rise of Spotify has meant that bands need to go on tour to make money as well as forcing them to rethink the way that they release their music. Signed copies of vinyl and CDs are now more popular as it encourages people to go out there and still buy that hard copy. T-shirts and merchandise have also increased, as bands are continually looking for ways to supplement their income.
So that begs the question, is Spotify killing the music industry? Even though it has dealt a hard blow, the music industry is still alive and kicking, but the primary source of income for bands has changed from being CDs to now being merchandise, signed copies and ticket sales.