I just read this article from Hypebot today and it made me mad. Mad that musicians, the CREATORS of the music that we’re delivering to the masses, are not getting their due. I see music streaming services as just that, services. We should only be taking credit for the products we create to help transmit music, not trying to make money off of the music itself without giving the artists what they deserve.
As a streaming music company, we have many responsibilities to keep in mind. One of these is to ensure that the ecosystem that allows us to do what we do survives. This means paying the appropriate license fees to help artists supply us with the content required for our businesses to continue. Apparently, we’re already paying them peanuts and Pandora still wants to drive this down further! I guess they’ve never heard of the saying “don’t bite the hand that feeds you”.
Of course, the music industry itself needs to figure out how best not to limit startups trying to help them in this digital age. After going through the fine print of our PPL license, I now know why so few companies want to get into our line of work and how even fewer companies make money (they don’t). But we think we can change all that with what we’re bringing to the table and want to create the world’s first sustainable music streaming company. It will be a long and hard road, but not impossible.
What’s needed now is for all the main stakeholders of this industry, the artists, labels and technology companies, to sit down and find a way to navigate into the future together and ensure that the digital music industry not only survives, but thrives because of the innovative technology that’s driving it and not because we’ve managed to wring every last cent from the actual content makers.
Soundtrack: “Money Maker” by The Black Keys