The Streaming Delima
In a world where we want everything now, we sometimes forget about the effect on our lifestyle and culture our immediate gratification may have. In the world of music, the songwriter depends on royalties paid for the use of his song. Traditionally, royalties are paid directly to the songwriters and publishers for the use of a song. The amount of the royalty is based on a consistent standard and has been the fuel for one of the most prolific and lucrative industries in the world. Now enter the new paradigm of streaming music.
The apparent promise of unlimited music and artists for $10 a month is an offer too good to refuse; or is it? Our favorite artists, some or most not platinum sellers have historically depended on publishing royalties to pay their mortgages and health insurance. The advent of streaming music has reduced the traditional publishing royalty pipeline to minute fractions of a penny. Stories of 1 million plus downloads paying only $100 or little more. This is an ongoing story that is being written with each day. What would you be willing to pay your favorite artists to hear their music on demand? More to come.