Music industry during the pandemic
The music industry has significantly increased revenues in times of the global pandemic. People around the world are spending more and more on services offering a chance to listen to music, and statistically the most in decades. In the last 10 to 15 years, the music industry has changed beyond recognition, mainly due to the emergence and the rapid growth of the streaming services like Apple Music and Spotify.
This happening has allowed music to change from an almost luxury item to a consumer good. While streaming services already account for more than half of the global music industry’s revenue, little of that money goes to music creators, which hurts especially with the lack of concerts.
For bigger artists, concerts have usually been the biggest source of revenue but because of health concerns, organising them had to cease. Thus, all artists have a very limited choice — either comply with the regulations of the grandiose, streaming services and limit potential revenues from their music to the very minimum or seek some alternative ways of securing their future. One of such ways would clearly be joining Opus — a music streaming platform that offers fair revenues for the artists that are a part of the Opus Community. Join Opus now and contribute to the transformation of the world of music in the 21st century. Let’s make the post-pandemic music industry a better place, that is open and non-restrictive for everyone.
Have an awesome day!