It doesn’t matter whether you’re a fan of Iron Maiden or Kanye West because Spotify
has everything you could ever need and more. Every genre you could ever hope to listen to, is on that platform. Spotify is really one of the most successful services out there and they have claimed 36% of the global market for streaming too. When the service launched in 2008, it went from strength to strength and now it’s classed as being one of the most popular audio streaming services in the world. Of course, a lot of this comes down to the fact that people can now listen to things much easier and they can also listen while on the go as well. This might have had a positive impact on the people, but has it had a positive impact on the music industry?The Cons of Spotify
The cons of Spotify can be closely related to any industry that has gone digital in the last 10 years. Take the casino industry for example, you once had to visit a physical location to gamble but now you can access everything online with just a few clicks. Sites such as Casinostugan
as a prime example in the genre, have experienced a huge amount of growth as the result of this. Companies have had to adapt to make sure that their online offerings match that of a physical casino as well, to help the transition.
The same can be said for the music industry. If you look at the music industry as a whole, you will see that artists don’t get much help at all from streaming. They are not able to get pennies for the streams that they get, and this really does impact the money that they can make. When you look at CD sales, you will soon see that artists make way more and this means that they are able to fund their success. It would take an artist billions of streams just to make a small amount of money, so in this way, it would seem that Spotify is absolutely killing the music industry. People might have, at one point, visited their physical record or CD
store to pick up an album, but now they can listen to whatever they want online.The Pros of Spotify
So Spotify does have some pros for the people who might want to use their services as an artist. People aren’t usually willing to part with money on a CD if they don’t like the music. The problem is that before Spotify, people wouldn’t have a way to hear the music before buying the CD. Nowadays, you can come across a band on Spotify and if you like them, you can still go out and buy the CD. Unknown bands who might not be able to put out a physical copy of a CD are also benefited here and the main reason for this is because they are simply able to get added to playlists without having to invest a lot of money in marketing. The platform does it for them.
So is Spotify killing the music industry? Yes and no, only time will tell which way the music industry swings.