3 Hard Truths Why Music Creators Make Less In The Industry
Music creators get the short end of the stick when it comes to finances. They make up only 11% of the total revenue the entire music industry generates. So why do the ones who actually make the thing we all listen to make so little in proportion to the whole music industry? Here are 3 hard truths why music creators make significantly less than the rest of the music industry.
1. Music Creators Are A Dime A Dozen
The number of people who create music has grown astronomically. This is in large part due to technological advances in society. It is estimated that there are 40,000-50,000 songs uploaded on Spotify every single day alone. That is a lot of music. That is a lot of music creators looking to share their work with the rest of the world. This ties into music creators making less in the industry because there is a such a giant pool to pick from.
2. People Listen For Free
The music industry has changed in a number of ways throughout its life. Currently people do not pay to listen to music anymore. Anyone with a smart device can sign up and listen to millions of songs free of charge, so why would anyone go to buy a single song for .99 on apple music? This ties into the relationship between you monetizing your music in the sense that you have more control and are entitled to more revenue if your fans purchase a direct download of your song.
3. They Don't Have Leverage
The ones who have leverage in the music industry are the record labels, streaming platforms, and distributors. The reason this is that they have control over the music and the way everyone is able to listen to it. They have platforms that give you the opportunity to express yourself and your music to fans. You as a creator are just another one in a million using their platform to reach an audience. The company who owns the system controls the way revenue is distributed from there. You as a creator being at the bottom of this list.
The ones who make the actual music get the short end of the stick for these reasons. The way you can create a better scenario for your career is to have an understanding about how the machine works. The truth of the matter is that as long as new platforms you need to reach your audience are being made you will be a user to a larger organization.