BuckMoon Arts Festival
As a reminder to anyone who happens to be in the upstate NY area, I’ll be performing live accompaniment for a staged reading of The Exonerated as part of the BuckMoon Arts Festival on July 12-13, and leading a series of panel discussions with working artists and industry experts on how artists can monetize their art. You can read about both of those here.
In doing some research for the panel discussions I was listening to the CD Baby podcasts this week and I caught up on two interesting, and somewhat related stories to the panel.
1. Apple’s Eddie Cue announced that Apple bought Beats because “Music Is Dying”
2. Indie artist Shannon Curtis came on to promote her new book, “No Booker, No Bouncer, No Bartender: How I Made $25K On A 2-Month House Concert Tour (And How You Can Too)”
Is Music Dying?
I’ve never seen anyone at Apple make any kind of negative statement about the music industry, which is why iTunes Eddie Cue’s quote is somewhat telling:
“Music is dying,” said Cue. “It hasn’t been growing. You see it in the number of artists. This past year in iTunes, it’s the smallest number of new releases we’ve had in years.”
As quoted from http://readwrite.com/2014/05/28/apple-beats-eddy-cue-jimmy-iovine#awesm=~oHLbiOYNIxpYCB
My guess is that he’s talking about the smallest number of major label releases, as there is no shortage of independent music being released. and that might be true. A recent Variety article entitled, Music Sales Continue to Plummet for Albums and Digital Downloads, brought up the following statistics comparing sales for the first 1/2 year of 2014 with sales from 2013.
- Total album sales (any format) dropped nearly 15%.
- Sales of individual digital tracks were down by 13%
- Streaming was up 42% (but streaming revenues for music are almost nothing)
- Vinyl sales were up 40%, with Jack White’s Lazaretto selling over 48,000 units.
- The year’s best seller is the Frozen soundtrack which has sold over 2.6 million units.
As the article’s author, Christopher Morris put it:
“To put the steepness of the decline in perspective: Just 18 months ago, Adele’s Grammy-winning “21” – the bestselling album of 2011 and 2012 — finished the latter year with sales in excess of 10 million. It is conceivable that such a phenomenon will not be seen in the industry again.”
In contrast, check out the story about Indie Artist Shannon Curtis who went from playing clubs to making $25,000 on a 2-month tour of house concerts.
So, is music dying?
Well….music itself isn’t dying (that quote is just silly) but music making is being altered in a way that professional musicians are not able to make a living at it with traditional means. The traditional major label model has moved from a terminal status to life support and musicians are having to find ways to try to make money with more revenue streams than ever, that pay less money than ever, with more people competing in the market forever.
Shannon Curtis was able to bring in some money doing house concert shows to audiences who wanted to see her in a non-traditional venue (but I’m guessing she’ll make more money from her e-book from musicians looking for a new angle than she ever did from her concert tour!) But the real problem most new artists face is that culturally we’ve created a Vine audience with a short attention span. One that demands immediate gratification and doesn’t want to have to wait to experience something.
Having said that, people still want to connect with things on a deeper level, and the artists that can weather the storm and actually touch people – consistently in an honest emotional way, are the ones who will be building a career and those artists are going to face even bigger challenges over the next 10 years. Perhaps that struggle will make some great art.
Back to the panel prep! As always, thanks for reading!