Ecoustics Sr. Contributor and Producer, Mitch Anderson, is also a musician/songwriter when he’s not behind the mic as the host of Black Circle Radio and he’s made it really clear on our podcast and his own radio program that the resentment in the music community towards the streaming platforms is about to boil over.
A news story over the weekend from Music Business Worldwide makes it abundantly clear that songwriters are about to get the shaft from platforms like Spotify and Apple Music if things don’t change soon.
Songwriters are already not making a lot of money from their music while the music labels and top tier of talent rake in the profits and it’s almost impossible to believe that the platforms want to pay songwriters less going forward.
Less?
With Adele’s latest song “Easy On Me,” breaking the record for the most streams in one day (over 20 million), it’s almost impossible to believe that there isn’t enough money in the till for songwriters to earn more.
Streaming is almost 85% of the market in 2021 and the music labels and platforms are sharing billions in revenue.
It’s understandable why musicians and songwriters prefer physical media sales at this point, because without live events, merchandise, and record sales — they would be barely making a living.
Bad move Spotify. Greed isn’t good in this scenario.
