The internet has started to take over the music world, nowadays everyone buys there songs via apple music, Spotify and SoundCould, instead of buying CDs and digipaks. Which has crippled CDs and digipaks since on one nowadays buys them, instead of buying the hole album like you used to 5 years ago people can buy separate singles on iTunes. Artist are now making most of there money online using publicity to advertise there songs and selling then via the internet. iTunes makes around £6.9 billion a year increasing dramatically over the years to come. The down side of selling all there songs on the internet “Piracy of music has also risen dranaticly and is costing the music $12.5 billion of economic losses every year, 71,060 U.S. jobs lost, a loss of $2.7 billion in workers’ earnings, and a loss of $422 million in tax revenues, $291 million in personal income tax and $131 million in lost”. These statistics where taken in 2014 meaning that now days its a considerate amount more.
How artists make their money
Artist are making less and less money nowadays due to piracy. Which is why some artist are only selling there songs on one website with is very secure so it is less likely to be pirated. Most artists can make money in many different ways for example.
Selling of an Album – £12.00
Selling a Single – £1.00
Up to around £100,000
Live Private Gigs:
From £75,000 to around £2m for leading acts