What state is the music industry in regarding profits and whats the best way for a band/artist to make money?
Question by wesellwaymorebunny: What state is the music industry in regarding profits and whats the best way for a band/artist to make money?
I’m reeeeallly out of the loop and it seems a bit of an uncertain time at the minute. Are record companies even bothering giving deals anymore? Whats the most efficient way for an artist to make money in the face of illegal downloading? Whats the future of the music industry in your opinion?
Best answer:
Answer by mixmaster
The record business is only a part of the music industry. Music will always survive and be a part of our culture but the record business is for all intents and purposes dead. Record sales have been a steady, steep decline with now improvement in sight. Revenue for artists still comes from live performances and licensing music for advertisements. Small labels are emerging that have really interesting rosters, but being profitable is very difficult. Independent artists will still be able to sell their music, but there is stark evidence that they will not be able to make any profit from it at all. Major labels are making deals, but at a fraction of the amount that they were even a few years ago. There will always be a few big named acts that emerge but never at historical rates. Free destroyed the record industry and the labels run by an entirely clueless bunch did nothing to help themselves by continuing to arrogantly release cra**y over-priced products. The future? There will always be music and there is hope that someday records will become new again.
Give your answer to this question below!