The music business is bouncing back. Is your favorite artist?

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    (September 21, 2017) A couple of years ago, it seemed that the sky was falling in the music world, as record sales fell and the ability of all but the biggest artists to earn a living doing what they love was in jeopardy. It’s still tough out there, but a new report gives hope for a path forward -- if record companies, artists, fans, and even music sources like SoulTracks, adjust to the new reality.

    In a report from the Recording Industry Association of America (RIAA), music industry revenue for the first half of 2017 was reported at $4 billion, up 17% from a year ago. That continues a very recent trend of growth for the music industry after years and years of decline. The key? It’s all about streaming now, through services like Spotify, Apple Music, YouTube and more. In fact, streaming now accounts for more than half of all music revenue, and is growing at an astounding 50% per year.

    (September 21, 2017) A couple of years ago, it seemed that the sky was falling in the music world, as record sales fell and the ability of all but the biggest artists to earn a living doing what they love was in jeopardy. It’s still tough out there, but a new report gives hope for a path forward -- if record companies, artists, fans, and even music sources like SoulTracks, adjust to the new reality.

    In a report from the Recording Industry Association of America (RIAA), music industry revenue for the first half of 2017 was reported at $4 billion, up 17% from a year ago. That continues a very recent trend of growth for the music industry after years and years of decline. The key? It’s all about streaming now, through services like Spotify, Apple Music, YouTube and more. In fact, streaming now accounts for more than half of all music revenue, and is growing at an astounding 50% per year.

    More traditional forms of music delivery continue to slip, with mp3 downloads (down 24%) and CD sales (down 3%) becoming less relevant; vinyl records are the only growing area of physical music (3% increase), but are still a small piece of the overall pie.

    Unfortunately, like the economy as a whole, the better times are not being shared by everyone. Streaming services tend to be more “hit” and youth driven. Teenagers and Millennials have embraced streaming, so their artists (especially major label pop and hip-hop acts) are reaping an inordinate amount of benefits, while more adult-oriented artists are generally not getting their share.  So, backed by a major label machine, Justin Bieber can get over 1 billion spins of his latest hit, even as a typical independent soul music artist may receive just a few thousand streams. And it is tough to pay bills on that when you’re paid less than $0.005 for each time your song is streamed.

    Another, less known factor affecting artists is that not all “spins” pay the same. A song being streamed by a Spotify subscriber can pay an artist double or more what is paid when someone watches an authorized YouTube video of the song. And when someone watches an unauthorized YouTube video of a song, the artist may see nothing. Even though the experience of the song may be the same for the listener under these various methods, it is very different for the artist and what they get paid.

    So, if soul music lovers want to enjoy their music and ensure that their favorite artists can continue to record new music, what can we do? Well, there are some simple answers that can help.

    At SoulTracks, we will commit to the following:

    • When we review albums or songs, we will continue to include purchase links to Amazon or other online stores where CDs, vinyl albums or mp3 downloads can be obtained.
    • When we stream songs that have been commercially released, we will attempt to use streaming methods that will provide revenue to artists. That means we will increasingly use Spotify for our Listening Rooms. And if we are to show a music video from YouTube, we will seek out authorized videos.
    • We have created and will continue to grow “Fresh Soul,” the new SoulTracks Spotify playlist that will focus on new, mostly independent soul music artists. Every time a reader listens to that playlist, artists will earn money.

    And then, what can you do? If you still prefer to own your music, then please buy CDs, vinyl and mp3s of artists you love. They need your support now more than ever. Like radio? Then support radio stations that play indie soul and help fans to discover new music. If you prefer to stream, please get yourself a subscription to Spotify, Apple Music or Tidal, as they are now paying artists real money – and then listen there often or check out our “Fresh Soul” playlist. The more you listen, the more soul music artists will be earning.

    It is definitely a new world, but I’m more optimistic than I was just a year ago that there is a path for artists to find their audience and earn a living doing what they love. The new RIAA report gives encouragement that there are bright spots ahead. But it is up to everyone in the soul music world to make sure that our music and the talented artists who make it share in the benefits of that new world.

    By Chris Rizik