Profitability in the music industry has slowly shifted from song sales to concert ticket sales. This is not an opinion; it’s a fact; open any trade publication associated with the music industry and you’ll read the same there. While there are many reasons why profitability in song sales is down (even if revenue from song sales increased somewhat – song sales are still not nearly as profitable as concert ticket sales), the shift toward live performance has many implications for all artists and their future.
If you’re an artist, producer, record label owner, artist manager, recording studio owner, engineer, publisher or ever wanted to learn about the music industry this is a great time to start! The music industry is huge and encompasses all aspects of getting music into the hands of the public including: performance royalties, mechanical royalties, film and television deals, all legal aspects (contracts, etc.), various types of record label deals, global distribution, the responsibilities of producers and the art of songwriting. The future of the music industry is rapidly changing – don’t use yesterday’s knowledge to navigate today’s music industry!