Virginia Tech students’ favorite music is increasingly streaming into their ears instantly, and for free — a trend leaving many of their favorite artists with weakening streams of revenue.
A survey conducted by the university’s Communication Network Services in coordination with the Future of Music Coalition shows Hokies are most likely to access music for no cost through YouTube, Pandora and free versions of services such as Spotify and Last.fm.
Tech students’ music preferences will be further explored in a panel discussion tonight that will discuss “The Value of Music.” The event, hosted by CNS in a partnership with the FMC, will be held in Squires Student Center’s Old Dominion Ballroom tonight at 7:30.
Getting paid. Making it rain. Rollin’ in dough. Getting paper. Making moolah. Cashing in. Scrooge McDuckin’ (yep, that’s one, too. Thanks Google.)
Making money matters, and in the digital age, there are move avenues than ever for artists to collect on their work. We’ve gone so far as to identify 29 revenue streams for today’s musicians and composers. Which ones are growing and which ones are shrinking? That’s what we’re trying to find out through out Money From Music survey. If you’re a U.S. musician, we want you to take part in this important research. Better hurry, though — the online survey closes on Oct. 28. read more
One of the greatest promises of the digital revolution is that it would remove many of the barriers to instant listening gratification. For example: having to purchase a physical product from a retail establishment with limited shelf space, or waiting for a song you liked to come on the radio. To a large degree, that’s been accomplished — at no other point in history has it been easier to access vast catalogs of music online. The tension, however, has always been in finding business models that make sense for both creators and consumers. Today’s marketplace has a number of innovative, fully licensed music services, which is definitely encouraging. read more
Pandora went public to plenty of press nationwide. Meanwhile the local Bay Area press hyped the music discovery service’s impact on the economic development in Oakland. TechDirt’s Mike Masnick asked why no one else seemed to be talking about misleading reports about Pandora’s profitability. read more
[This post was co-authored by FMC Communications Intern Scott Oranburg]
Digital Music News recently published a series of automated pie charts that document the recording industry’s revenue streams over the past decade (2000-2011). The data paint an interesting — and, for some, troubling — picture about changes in the recorded music biz. We at FMC love geeking out over stats, but we’re more concerned with how musicians are making a living than the declining popularity of ringtones. To that end, FMC recently kicked off our Artist Revenue Streams (ARS) project, which aims to assess how musicians’ revenue streams are changing in this new music landscape. (If you’re planning on attending SF MusicTech Summit in San Francisco in May 9, be sure to catch project co-director Jean Cook’s ARS presentation and panel.)