Interesting Moneyweek article9 Dec 2018 21:46
About the way the music industry is evolving. Doesnt mention VR but its going to fit in nicely with the new streaming way of making money.
https://moneyweek.com/499111/music-industry-back-on-song/
Not sure if that link will work but here are a couple of excerpts...
The biggest artists are making hay. According to Sam Wolfson in The Guardian, the very biggest stars, such as Ed Sheeran and Drake, have earned $50m from Spotify alone (which accounts for about 42% of the streaming market). Sheeran’s label, Warner, earned $1.3bn from streaming last year. And Sheeran, the unassuming Suffolk boy who became a global phenomenon, certainly knows how to monetise his content.
Spotify works on a system of playlists, offering different kinds of music to different fans. So, for his massive global hit Shape of You (a dancehall-influenced pop song), Sheeran also recorded and released an acoustic version, a reggaeton version for the Latin market, and four further dance remixes – adding up to a record two billion streams.
For all Spotify’s success, it is not yet profitable, and there’s no obvious sign that this will change as long as it depends exclusively on others to license its content. Citi analysts predict that “renting” and live experiences will continue to grow in importance, and that the industry’s structure will evolve to reflect these changes in consumer behaviour.
Streaming firms will try to become more like a label by doing deals directly with emerging artists. And labels will become more like concert promoters by moving into live events. For artists, says Citi, these trends are likely to mean they “capture a larger share of the ecosystem’s revenues”.
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