Streaming makes up 84% of music revenue. Spotify owns the lion's share. The subscriber market is projected to grow at over 25% next year. The total? $4.6B in revenue globally.
Why would anyone buy music when streaming is so popular? Music across the world brings in less money than coin operated laundromats ($30B). So music, (you know, the stuff you grew up with?) has less value than clean clothes. Hard to believe isn't it? Especially, after you see big ads from big stars with big talent! Laundry makes an order of magnitude more money without the glitz and glamour.
So, why would anyone sell music? Really, there's no really money in it. Here's what I mean. I can't expect anyone to reasonably think they should pay $0.99 for a song that costs well over $1200 to produce. People have been getting tons of music for free off the radio since the 1930's. And I want to SELL music, now? During this time when the market share is so small? Let's be realistic...
Let's start with more truth by comparison: McDonald's isn't in the burger business. They're in the real estate business. Every city in the United States has a McDonalds on the best chunk of real estate there is in that city. To pay for that real estate, they generate cash flow from selling burgers. But McDonald's corporation develops real estate.
So, admitting the truth is pretty plain. I'm not in the music business. If I sell a whole lot of music, I'd still need to make $12K just to break even on a 10 song album. If I can sell to 1% of the US population (3M people), I'd make about $3M bucks before taxes and expenses. I'd have to sell to 100K people to make $300K, or 10K people to make $10 bucks. And then, I'd lose money, right? With so much overhead and upfront expenses why would I ever sell music? I'll just give it away.
I'm in the audience business. Or trying to be. Catching an audience is like catching a fish. You have to know where they are, what they bite on, and how to reel them in. The game is to attract and catch. My audience is the tail end of the Baby Boomers. So am I. And that means all I got to do to catch fish is to deliver the content I want.
Now some questions: Do you think my fish listen to Spotify? Probably not. Do you think they're on facebook? Naw. Instagram? Not likely. Maybe one day all that'll change. But my fish hang out with other Boomers. And Boomers like real life experiences. They like shopping in stores, hanging out in bars with friends after work. And they like trying new things. Believe it or not they make up 23% of all shoppers in the U.S. And after years of working hard, they want to relax. And they like to go to events. And they really like that comfortable chair. The definitely don't want to be out all night, either. They want to enjoy their grandchildren and then chill out.
While it's true I don't even like Spotify, what's more important is I want to my music to play on a vinyl record, because that's the way it should be. Pops, cracks and hisses. Everything. There's something about it. It's not the music. It's the experience of it. And I think my audience will resonate with these folks as much as it does for me. I love my old albums. Why? No advertisements! Kick back and turn up the volume.
The number one reason listeners go to streaming service? You guessed it. Advertising. Nobody wants to listen to ads. Don't believe me? See the statistics for yourself. https://musicalpursuits.com/music-streaming/ That's about the one thing I have in common with good old Spotify. (by the way, I have music on spotify)
So if you're a Boomer or a Gen X and you care about what goes into your head (that's what music does), then know my music is done with you in mind. You can hear it in every lick, riff and chop. But make no bones about it. As much as I love making music, I really do give it away. But soon, I'll be taking the show on the road (I hope). And you can see me and the guys playing live in a venue you care about.
For now, Hook, Line & Sinker is in the final stages. I plan to release it this year. But video and other experiences are headed your way first. You'll get first dibs on all early access videos and songs. Thanks to Particle9Productions for the photo.
Love & Rockets,