Multimedia giants such as Spotify, YouTube, Google, Amazon Music, iTunes, Deezer, and other streaming services have become the new modern platform for artists to share their work, and for fans to access literally millions of hours worth of content for free. Whilst many services now offer a paid subscription to remove adverts that are delivered to the user experience whilst using these services, most of the revenue generated goes directly to the multimedia companies, with artists and creators seeing a very small proportion of these profits.
“Fantastic news. This started with artists who had the courage to use their voice’s and standing up to an industry that wasn’t willing to change. I am very proud of all those artists and happy to see the ball rolling in the right direction. Without compensation, artists can’t afford to keep making the music. We are just getting started.”
- Nikki Sixx

It’s said that only about 17% of the billions of dollars the music industry made in 2017 actually went to artists. Spotify on average will pay an artist around 0.008 pence for s single stream of an uploaded song, whereas to buy a single track you’ be paying upwards of 99cents (99p).

On the 12th September 2018, the European Parliament voted to go ahead with copyright reform in regards to content creators and artists in order to establish a more equal balance between artists and publisher in terms of revenue.

The chair of Independent Music Companies Association, Helen Smith added: “Platforms facilitate a unique relationship between artists and fans, and copyright reform is about rebalancing the licensing framework around this".

Author Bio: AC Speed

Senior Editor

I started my career as a music journalist in 2013 and have been involved in the music industry as a touring musician, studio engineer and artist consultant since 2002, as well as previously being a signed artist. My passion for delivering high quality, informative music-related news is a daily driving force behind the content I create. Also a huge gaming nerd! Born in the United Kingdom and currently living in Sweden. Skål!

CONTACT ME HERE

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