The one last bastion of revenue for music that has remained however has been live concerts. Ticket prices have remained strong and allowed artists that would otherwise not be able to make a living playing music to continue the pursuit and help pay for recording production. But a new company and a new service could inject the subscription dilemma into the live concert space as well.
Today (9-4) at a press conference in Chicago ahead of the very first concert of Garth’s world tour and his official comeback from retirement, he announced that he was going digital, and doing so by launching his own digital company. Garth has launched GhostTunes LLC, which allows the artist to select how their songs or albums are sold.
The underlying problem is that free music is quickly becoming seen as an inalienable right for all Americans, and all of the world’s consumers, if we haven’t reached that dangerous plateau already. And the even more dangerous step of expecting musicians to pay to have their music heard is becoming more of a reality every day—evidenced by this Super Bowl Halftime news.
Here’s there long and short of the current problem: Just like iTunes, Beats, Amazon, your local school district, and your refrigerator repair company, YouTube has decided it’s getting into the digital streaming music service too. However the problem is YouTube is not really set up like its burgeoning rivals to make the best of the current music streaming paradigm.
the simple fact remains, radio is still the most widely used format for music listeners, confirmed by a new study by Edison Research. And even more importantly, radio is where listeners go to discover new music. 75% of listeners use radio to keep up-to-date with music, while only 20% use SiriusXM, and only 18% use Spotify. Radio’s days might be numbered, but right now, it still rules the roost.