Donate Today! Help us help others.

Lynch Coaching

Translate

Monday, November 18, 2013

Internet sucks creativity with little return for creative artists

"Spotify gave $500m in advances to major labels in the US for the right to license their catalogues. That was an "advance" against income – so theoretically it's not the labels' money to pocket. Another chunk of change is soon to follow. The labels also got equity; so they are now partners and shareholders in Spotify, which is valued at around $3bn. That income from equity, when and if the service goes public, does not have to be shared with the artists. It seems obvious that some people are making a lot of money on this deal, while the artists have been left with meagre scraps.

The major labels are happy, the consumer is happy and the CEOs of the web services are happy. All good, except no one is left to speak for those who actually make the stuff. In response to this lack of representation, some artists – of all types, not just musicians – are forming an organisation called the Content Creators Coalition, an entity that speaks out on artists' behalf."

No comments: