By Erin C.
Saturday, May 3, 2019
(NEW FRONTIER NEWS)- Music is worthless. It has no value.
This is why copyrights to music make no sense. Allow me to explain.
Many artists place the blame on the ‘streaming economy’ or the ‘fall of physical music’ as the reason why independent artists cannot make enough money to sustain themselves. I happen to disagree.
A list of 30 highest earning musicians of 2018 included the likes of Metallica, the Foo Fighters, Roger Waters, U2 among many other pop idols. Almost every artist- if not every artist on this list- has one thing in common.
The lion’s share of their income- lion’s share meaning half or more- came from tours, not streaming.
Even before digital streaming was introduced as a new format, bands simply did not make enough money off of their music as they did tours. They made substantially less, actually. The only reason albums could cost in excess of $20 before streaming is because of the medium they were distributed upon.
Taking this from a different approach, let’s recall the basic theory of economics. As supply increases, demand decreases, and vice versa. Now, with the rise of streaming and digital media, your audio file that contains your song can be duplicated almost infinitely, and it is. This means it has an infinite supply.
The only time this supply is finite is if you make the music, record it to a file, and keep it to yourself. Besides that, any time you release a song online, it now has an essentially infinite supply. Now, if your product has such a huge supply that there is no value you can address to the supply of it, you also cannot assign a value to the demand of it. Your music has no value on its own. Nobody’s music does.
Copyrights create a paywall that does not exist in terms of economics. My advice to young, aspiring artists is to use all the tools at your disposal.
Right now, unless you have a following, little to nobody cares about your music. Build a following, and then release the music. Your fanbase will be anticipating a release and is more likely to listen to your songs.
After your fanbase grows large enough, you will amass enough money and resources to tour, which is where you will really begin to make your money.
Now, how will you make that money? After all, I did just say your music is worthless and nobody cares about it.
Simple. If you make your music with the intent of the enrichment of those who consume it, and it shows in your music, then most if not all of those people will, in turn, enrich you. And, no, not everyone who enjoys your music will enrich you in turn for enriching them, but if you truly impact enough people’s lives in a substantially good way, they will not only enrich you for it, but they will also begin to spread your name around more, so that others can be enriched by it as well.