We all know the music industry isn’t in a good place right now. Sales are down and artist are not happy. So it made me think? Why don’t the Big 3 (Universal, Warner & Sony) just come together and make their own streaming service with all their music, instead of sharing profits with Spotify and Apple Music? I don’t get it.
Film/TV industries have their own dedicated services like Netflix, HBO Max, Disney+, etc. They don’t have a middle man taking a cut like Cable. Obviously, the Big 3 would need to come together to make this happen. Having 1 music service strictly for just 1 of them is a bad idea.
I just think Spotify & Apple are benefitting from this way more than the labels. And with Spotify paying HUGE amounts to the likes of Joe Rogan 😒. It’s kind of a slap in the face of the industry that MADE them this big. Like why is the Talk Tuah podcast getting just as big of bags as the labels & Artist? I know Jay Z tried his own service ran strictly by the artist called Tidal like 10 years ago, but he couldn’t get enough big artist to invest into it long term.
Can someone PLEASE explain to me why the Music Industry allows this?
Correct, the main selling point for music streaming services is about having one place where you can find all your favourite music. It’s acceptable if you don’t find all the Star Wars stuff on Netflix - you can either watch other shows or movies instead or subsribe to Disney until you’ve seen it all, but a music streaming service with only the content of one or two major labels would probably be less attractive for many people, because they would only get a limited amount of music / artists. Also for the record companies it could mean higher cost (for maIntaining their own streaming service) and potentially lower profits.