It might be unintentional, but Taylor Swift has started the trend of "exclusive" with the artist's 2014 WSJ op-ed regarding the fate of music streaming. The artist described that music is essential and hard to come by, thus it is deemed as priceless.
The artist was only pertaining to some points regarding exclusives for streaming, but in addition was setting a mindset in perspective of music that would change the trend of the industry in a couple years. Earlier summer the rights to stream the artist's album 1989 was solely given to Apple. Another battle of the top three preferred streaming services for 2016 (Spotify, Apple Music, Tidal) gives the ultimate edge to the party who has the exclusive rights to stream music of favorable artists.
Although Music streaming was intended to make music more accessible and convenient, the current trend is slowly building fences and cages for the musical creations. A discussion amongst the majorly involved in the consumer market and the music industry at large was discussed over The Verge.
Kaitlyn Tiffany of The Verge asked Micah Singleton about this. She mentioned that the same time last year that Micah and a co-blogger, Jamieson, their dear friend, discussed how music streaming online services, for example, Tidal, Spotify, and Apple Music made an unequal playing field for the music industry.
They stiffened the upper percentage bracket, top one percent, of famous artists such as Adele, Taylor Swift, Drake and a lot of others, making it very difficult for other artists, especially indie bands, to make revenue from releasing music. Kaitlyn buzzed upon another angle of the matter, the exclusive releases of music from artists by the music streaming services. She mentioned that the exclusivity became a standard practice for the industry and it may look like that it is going to be a steady trend. She asked about Micah's opinion if the trend will be a good solution.
"It's not a good solution, but it's the best solution streaming services have come up with so far," Micah replied. As per Micah, The online music streaming business is very costly, the companies rendering the service, spends millions of dollars directly for the permit to access the music and then pay at around 70 percent of the $10 monthly subscription to the holders of the rights.
That being said, no one from the companies, even with its huge number of subscribers or users are profitable. Almost all the music online streaming companies have the same objective pertaining to shelling out money for exclusivity on the rights, is to increase paid users or subscribers.
The discussion continued to tackle the upcoming and the consequent dilemmas and benefits that the companies and end-users will face in the future, what will be the future of music streaming.
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