|Posted by Admin on April 30, 2021 at 7:20 AM|
Apple Music is now paying artists and labels at least twice that of other DSPs like Spotify.
Apple Music recently announced that artists will be paid equally and fairly as labels, and its rate is by far the highest in the industry so far. It’s a shift in how artists are treated in an era where the rights of creatives are taking the forefront, and those who previously capitalized on the earnings of artists- are being blocked from claiming income that rightfully belongs to the artist.
While there are changes, however, the Dancehall fraternity hangs in the shadows as the power players seek to hold onto the old ways of the business, and that means artists and their interests come last.
This latest announcement by Apple Music might also set a precedent for how artists relate to streaming companies, particularly now that the pandemic has shifted the incomes of artists from being diverse from tours and performances to now largely streaming and endorsements.
The switch to digital consumption is driven by technology as more users consume music readily on their phones, computers, tablets, and by various other technological means as physical copies of albums become less popular. This also means that the costs that artists charged per album, which can go for whatever they decide to share- anywhere from a few dollars to tens of dollars or more has greatly decreased with platforms like Amazon and Apple Music paying one dollar ($1) for a song.
The shift to online streaming means physical sales are down, but streaming is usually the foundation for other revenue streams to make more money. These include merchandising, touring and licensing, and other avenues from which the artists can make a lucrative income.
Streaming, however, may or may not work for every artist. As seen from the streaming numbers of the likes of Drake and Taylor Swift and even Nicki Minaj and Beyonce, diehard fans will purchase the whole album while others might get to enjoy the albums for free in a sort of way as their streaming membership guarantees them access to most if not all music on a streaming platform.