And, as with all new technologies and the business models they spawn, the kids work it out first and everyone else plays catch up. The bottom line is this - everything that has changed in the music industry has changed because of technology. I’ve thought a lot about this, because I have no intention of getting in the way of artists getting a better deal, but I have come to the conclusion that the committee report and coverage misses out an important discussion around the benefits streaming has brought to the global artist community. There is something significant going on at a macro level that is being completely missed in this inquiry and that presents a very different, much more positive perspective. Industry research organisation MIDiA has, over the last few years, consistently reported that independent artists are the fastest growing sector of the global music business in terms of value. They love streaming and they are building careers that they control and that pay really well.
And yet our experience at Instrumental over the last few years, talking to hundreds of young, independent artists all over the world, is completely at odds with that. If you took the headlines literally (and pretty much everyone I have spoken to about this who isn’t working in the industry does) you would never consider starting out trying to build a career in music. recording artists, the value gap on user generated content (UGC) hosting services and the continued dominance of the major labels - but I have some significant issues with the way the whole thing has been presented in the media and onto the general public. So anything that is aligned with our mission should be welcome.ĭon’t get me wrong, there are some important issues being explored - such as the disparity in remuneration levels for songwriters vs. We help high performing talent we’ve found through our tech to access funding, audience building expertise and marketing support without being forced to give up their copyrights. Instrumental, the company I run, has one clear purpose and that is to change the music business to the benefit of independent artists. On the face of it I should be totally into what the MPs are doing. I was really annoyed when they were published but rather than rant on Twitter I have tried to take a more considered look back at it now.
It’s also given me a chance to consider with a bit of distance the results of the UK Government’s enquiry into the economics of music streaming. A break in August is always a good opportunity to reset and take a step back from the day to day.