Spotify CEO Daniel Ek, who has a net worth of $4 billion, essentially blamed lack of productivity/musical output as the reason why many artists are making a pittance on Spotify instead of reflecting on his shitty compensation model. The company’s empathetic response is quite distinct from other music tech companies. The problem of generating income has been further complicated by the fact that many people are facing financial distress and/or uncertainty, meaning they have less money to spend on music.ĭespite the many harsh realities of the past year, Bandcamp has provided recording artists and fans with a constant bright spot. assuming the downloaded files are identical (which is. While some people have successfully pivoted to building audiences and revenue streams on Instagram Live, Twitch, and elsewhere, the transition hasn’t been easy for everyone. Since the artist-owned page specifically credits it as released by the label, I would say yes. With concert venues essentially shut down for much of the COVID-19 pandemic, artists who depended on touring/live performance and merchandise sales have had to find alternate means of income. Online music marketplace Bandcamp announced Tuesday that its pandemic-inspired Bandcamp Fridays initiative in which it waives its full revenue share on its sales to help artists.
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