Making money from music wasn’t sustainable pre-Covid-19. Looking beyond streaming and live gigs, Delic Sessions 006 asks how do musicians (music creators) make money from their music?
“Digital music has been one colossal failure in changing the economy of musicians themselves. It looks a lot like it did 40 years ago, where the money goes to a few and the rest are fighting for crumbs. The web and the social network caused a rush of artists to invest time, effort and money to build fanbases in this world of followers, streams, and likes, with the idea that ‘now we have this audience, we can build our lives in this space."
“There’s a lack of efficiency between a fan who wants to give something to an artist to explain their love for what they’re doing, and how the artists are receiving that. Right now, all these platforms are wildly inefficient ways for artists to make money: your music is available all the time and you don’t make any money. And that’s why Covid has been so devastating – live is the one place where you get paid directly.” - Tim Westergren, ex-CEO at Pandora.