Musicians only got 12% of the $43 billion the music industry generated in 2017

[The NZA]

Musicians only got 12% of the $43 billion the music industry generated in 2017 (mostly from touring)

Recording artists received just 12% of the $43 billion that the music industry generated in 2017, according to a Citigroup report published on Monday, and led by analyst Jason B. Bazinet.

$43 billion matches a 12-year peak that the industry hasn't hit since 2006, the report said.

The proportion of the total music industry revenue artists are capturing has actually risen since 2000, when artists took home only a 7% share of the revenue.

But this increase is due in large part to the growth of concerts and touring as a revenue stream that is largely distinct from the intermediary of their music labels. Artists are still taking home a meager share of the increasing revenues in streaming for their music, where music labels and music streaming services act as intermediaries.

The report shows that "consumer outlays," which includes streaming, concert sales, and purchased music, generated an all-time high of more than $20 billion last year. But music businesses, including labels and publishers, took almost $10 billion, while artists received just $5.1 billion, the "bulk" of which came from touring.

 

and if you think our digital futures been any less unkind, check out there vultures 

 

Apple Music: $0.00783/stream
Google Music: $0.0059/stream
Spotify: $0.00397/stream

[Iambaytor]

Tell me again that piracy is killing the music industry.

[Jumbie]

"Piracy is killing the music industry."

[Iambaytor]

[citation needed]