The real truth here is music is becoming cheaper and cheaper to make. A few grand worth of equipment is all that is required to generate most of the stuff you probably listen to, and if that isn't the case now it will be in what 5? 10 years?
Also think about the talent pool. The only longer line at the job fair is probably for playboy photographer.
Tons of people wanting to make music + low barrier to entry = Cheap music
The only thing attempting to hold this dinosaur market afloat is monolithic record companies, and their stranglehold on the popular genre seems to give them enough leverage to arrange a deal in their favor. Hence what we observe here.
What will likely end up happening is the next cost of music will become zero to the end user and bands and artists will find new revenue streams. Such as live performances, or perhaps product placement. Or does economics not apply to art?*
*I'm the weird guy who doesn't like music so I may be entirely wrong.
Also think about the talent pool. The only longer line at the job fair is probably for playboy photographer.
Tons of people wanting to make music + low barrier to entry = Cheap music
The only thing attempting to hold this dinosaur market afloat is monolithic record companies, and their stranglehold on the popular genre seems to give them enough leverage to arrange a deal in their favor. Hence what we observe here.
What will likely end up happening is the next cost of music will become zero to the end user and bands and artists will find new revenue streams. Such as live performances, or perhaps product placement. Or does economics not apply to art?*
*I'm the weird guy who doesn't like music so I may be entirely wrong.