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In Reply to: "So there is no indication that any will be in business this time next year. " posted by E-Stat on January 21, 2020 at 09:19:08:
Indeed yes the genie is out. However most of that big blue 80% segment relates to pop music. Streaming is great for that. However,as I say below, the streaming royalties for minority interest genres are insufficient on their own to fund the making of the record in the first place.
A solo piano recital recording costs around 40,000 gbp to make. Call it $. That and more has be recouped to meet that sum and to help fund the next month's release. Think what that means when the royalty is $0.0084 per stream (the last reported and highest Spotify royalty). And that royalty has to be split with the publishers, artists etc. So the record company is getting $0.0042 ( I am probably being generous). So just to recoup the cost of making the recording over 9.5 million streams are needed. Say it is a recital of Feinberg (who? )piano sonatas*. Will over 9 million people stream it? Ever? No.
The switch from purchase to streaming will in due course, decimate minority interest recording. Solutions are going to be hard to find. Raise the royalty rate by making monthly subscriptions $2,000 per month instead of $20? That isn't going to fly. Ask the artist to fund the recording? Being tried now. Ask the artist to fund the recording but don't give them any payment or royalties, just let them pick a selection of CDs from your back catalogue? Being tried now.
* A real example. It will be released in March on Hyperion. Hyperion do not allow the streaming of their repertoire.
"We need less, but better" - Dieter Rams
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Follow Ups
- RE: "So there is no indication that any will be in business this time next year. " - PAR 09:59:40 01/21/20 (2)
- Do you know how much it costs to remaster and release classic analog recordings - jdaniel@jps.net 09:57:35 01/23/20 (0)
- RE: "So there is no indication that any will be in business this time next year. " - E-Stat 11:16:19 01/21/20 (0)
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