Money in the music streaming business keeps mysteriously disappearing
J Thoendell stashed this in Music
A ton of money in the music industry is going missing. Some companies, like Kobalt Music Publishing, have platforms that watch their money in real time. And yet according to arecent report by Berklee College of Music, somewhere between 20-50 percent of royalty payments aren’t making it to the correct recipients. And in a $45 billion dollar global music economy, that figure certainly isn’t chump change.
No one knows how to count, or who to pay.
Some musicians, record labels, and publishers—folks who used to make a lot of money in the music industry—are upset and believe that streaming doesn’t pay properly. Think about Aloe Blacc’s op-ed for Wired or Taylor Swift’s op-ed for the Wall Street Journal. Both predicate their points on the argument that there’s no money to be made in streaming and that streaming companies are part of the problem.