by Michael Lowrey
pandodaily.com offers an informative look at the music industry circa 2013. The impact of iTunes, YouTube, Pandora, and Spotify, and how they intersect with songwriter and performance loyalties forms the main portion of the article. It’s an ever changing world out there, though the fundamental truth remains that artists don’t make much money.
Some sample basic truths:
“YouTube is the biggest jukebox online,” says 3 Elliott Studio’s Josh Antonuccio. “If Radiohead takes their records off Spotify, people aren’t going to necessarily steal them. They’re going to YouTube to listen to them.”
Indeed, where do listeners consume more free music than anywhere else on the web? YouTube. Accustream estimates that 38.4% of YouTube views are music videos. With more than 4 billion views a day, that’s 1.5 billion daily music streams. Meanwhile, Pandora has 70 million active users meaning every last one of them would have to listen to 20 songs every single day to catch up.