Last night at The Entrepreneur Center in Nashville, Garth Brooks stopped by to talk about the music industry. He was the surprise guest. It was pretty surprising lol! At first I didn't have my glasses on so I couldn't tell who it was... hah but very exciting once I realized.
He talked a lot about streaming services, technology and music. Most of the questions people asked were directed that way.
It got me thinking about this thing all over again (streaming, the monetization/business of music)... it's one of those things that I think every musician, songwriter, vocalist, publishing company hopes will get worked out on its own. But I don't know, ever since I started trying to be a performer, it has been the topic of conversation.
Things are always changing in music with new technology - the mediums through which we receive and have access to music. But as creators we don't have to agree to be apart of systems that don't work for us. We don't have to sign on the dotted line because everybody else has.. Did they read the fine print? And are creators and businesses getting what they need when they give their music to certain platforms? Basically, is it a healthy atmosphere for music business to even flourish?
Someone I work with (in his early twenties) grew up not paying for music - and a lot of kids I know grew up not paying for music. They think that's okay. I'm sure they're not thinking about the studio musicians hired and paid to play on the record, the songwriters who spent months crafting the songs, looking at the studio costs just to hit record, the publishing companies, their employees, their families. So much riding on a song. So much work that goes into it. And it's something you get to have forever! Pretty incredible... not a lot of businesses or industries can offer that type of thing.
If you think about it, people are willing to pay $3-5 per day on a cup of coffee/latte etc... EVERY day. But when it comes to music, 99 cents seems to be a little steep for something you get to have forever?
Now obviously, not everyone, there are lots of people paying for music and really appreciate it's value - know it's value- what it took to make. But it is interesting.
This morning when I was getting ready I was thinking about iTunes.. and I was thinking about the fashion industry. In so many other industries, it seems that the price point is set in relationship to what it costs to make the product. It's funny that in fashion, clothes/shoes can cost little to make and be sold at 4 times that. But in music, the cost to make a record is much higher than what it's sold for. It actually blows my mind..
I like paying for music. It makes me feel good... it feels like the right thing to do. And I know if I don't that that would make it difficult for the creator to keep creating.
SO MUCH TO LEARN AND FIGURE OUT.