The Economist Is The Latest To Recognize The Music Industry Is Thriving
We’ve been making this point for years now, but as more and more evidence comes from the recording industry itself, it’s nice to see mainstream publications like The Economist finally willing to admit that the music industry is actually thriving, contrary to the stories you keep hearing in the press. It covers many of the same data points and stories we’ve seen before, but highlights a few others — including a rapper who set up a clothing line before he even made his first video, but is making more money selling clothes (which he wears in his videos) than selling music. As the article says: “Scorcher is not so much selling music as using music to sell. ‘If you buy into me musically, you will also buy into the clothing and the lifestyle.’”
- The Economist Is The Latest To Recognize The Music Industry Is Thriving
I don’t know if I agree with the statement that the music industry is thriving, but I do think that there are many ways an artist can monetize the music other than selling the music itself, such as song licensing. Those who recognize and embrace this will benefit.