Friday, 7 March 2014

1% of musicians make 77% of recorded music revenues

"Whatever money is left in recordings, you’re probably not making it.  That’s the harsh conclusion offered by Mark Mulligan of MIDiA Consulting, whose data shows a more extreme imbalance towards superstar artists than previously thought.  ”The music industry is a ‘superstar economy,’ that is to say a very small share of the total artists and works account for a disproportionately large share of all revenues,” Mulligan noted.
“This is not a Pareto’s Law type 80/20 distribution but something much more dramatic: the top 1% account for 77% of all artist recorded music income.”
In other words, the exact opposite of the Long Tail, a theory that seemed exciting at the time but has now been thoroughly disproven (MIDiA’s report is titled The Death of the Long Tail: The Superstar Music Economy).  Because instead of embracing choice, consumers have actually been completely overloaded by it.  The result, according to Mulligan, is a ‘tyranny of choice‘ that makes consumers less likely to explore, and more likely to glom around mainstream artists."

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