Surviving in the Music Industry: Offering Fair Prices to Consumers

Audio & Music | Business

​Surviving in the music industry can be daunting, especially in today's digital age, where streaming services dominate the market. As an entertainment industry expert, I've seen the major labels struggle to keep up with the changing times and adapt to the needs of consumers. In this article, I'll share some advice on how to survive in the music industry by offering fair prices to consumers.

​First and foremost, it's essential to understand the impact of the major labels on the industry. Universal, Sony, and Warner make up the major labels, and they have dominated the music industry for decades. They have tricked artists into signing horrible contracts and paid radio giants to play their music exclusively, monopolizing the market. However, this old distribution system is no longer necessary with the rise of independent artists and labels.

One of the main reasons for declining CD sales is the availability of streaming services. Consumers no longer need to own music to have access to it. They can purchase access to music through services like Spotify or Tidal. As a result, companies need to offer fair prices to consumers to survive in the industry. This means pricing music at a level that is affordable and accessible to all music lovers.

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​Another factor contributing to declining CD sales is the convenience of online shopping. Consumers no longer need to go to a store to purchase music physically. They can simply buy it online and have it delivered to their doorstep. This convenience has made it easier for consumers to access music. Still, it has also made it more difficult for companies to compete.

Companies must offer consumers something unique and valuable to survive in the industry. This could be exclusive content, merchandise, or experiences not found elsewhere. Companies can attract and retain customers by providing something that is not readily available.

​​Finally, it's essential to understand the impact of 360 deals on the industry. These deals, also known as multiple rights deals, give labels control over every aspect of an artist's career, from recording to touring to merchandise sales. While these deals may benefit labels financially, they can harm artists. As a result, it's crucial for artists to negotiate fair deals that allow them to retain control over their careers.

​​​In conclusion, surviving in the music industry requires offering fair prices to consumers. Companies must adapt to changing times and offer unique and valuable content to attract and retain customers. By negotiating fair deals with artists and avoiding monopolization, companies can thrive in the industry and provide consumers with the music they love.

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Aaron Buyea
Multi-certified Audio Engineer Aaron Buyea leads this operation with nearly a decade and a half of entertainment industry experience. Refined Melody's founder brings insights into understanding the inner workings of the entertainment industry, the ability to identify the issues the industry is facing today, and the ability to build solutions that transcend.​