Looking at the music industry income in 2022 around 65% comes from streaming (indirect v4v) with around 17% from advertisement sponsored streaming. 19% comes from direct sale. (v4v)
I consider direct sales v4v as obtaining music for free is so easy this days.
All in all better than I would have expected
I think the stars for people who earn a living on music are super tiny. Most don’t earn anything. Don’t have stats handy.
Absolutely, but this is also true in other publishing industries. The narrow top takes most of the pie. Charts, trending, top 10… and so on play a big role in this concentration.
If a stream pays between 0.003 and 0.0075 USD one quickly see the amount of streams needed to earn a minimum wage. Add to that that the artists only see a portion of that income based on deal. (Roughly 50% to all creative involved, 50%)
The users pay more per stream on average, as the platform takes its cut.
Ok so we agree. Which brings me back to my original point that v4v is likely not solving any of those issues for nonearners.
I hope I’m wrong.
It could broaden the field by removing the barriers to entry to getting paid.
Is it that much of a barrier if you are signed up on the platform already? I know nsfw industry has some issues with payments but don’t know if others have any significant challenges that would be solved by v4v
I believe you are right. It is not really the way in which the content is purchased that impacts whether the content creator can earn, money can come in via multiple streams, all are welcomed.
I believe the issue arise from the leeching along chain on one hand and the mentality (at least in music and film) to potentially lose money on many artists as longs as we can make insane returns on others. This is where building an industry where the top 10-20 is the jackpot works, as long as one of your horses lands the spot each year.
Marketing, as in most industries is to blame… most of my problems always come back to the same man… Edward Bernays.
Can Nostr solve marketing driven market concentration? Possibly. The advantage of nostr vs other platforms is that there is no concentration of market analysis. The data is sort of open to everyone. Market analysis, marketing strategies and so on could benefit from a healthier competition amongst them.
I believe you are right. It is not really the way in which the content is purchased that impacts whether the content creator can earn, money can come in via multiple streams, all are welcomed.
I believe the issue arise from the leeching along chain on one hand and the mentality (at least in music and film) to potentially lose money on many artists as longs as we can make insane returns on others. This is where building an industry where the top 10-20 is the jackpot works, as long as one of your horses lands the spot each year.
Marketing, as in most industries is to blame… most of my problems always come back to the same man… Edward Bernays.
Can Nostr solve marketing driven market concentration? Possibly. The advantage of nostr vs other platforms is that there is no concentration of market analysis. The data is sort of open to everyone. Market analysis, marketing strategies and so on could benefit from a healthier competition amongst them.
V4V will enable newcomers and people with a small fan base to get rewarded. There just needs to be one person patronizing the project and it could be enough. A paywall adds friction before you can actually enjoy the content and prevents people from getting to know new creators. Fans anyway pay the wall, but that's like a subscription model. There will always lurkers, but that's an issue in society and ads or paywall won't fix this.
One person?!
There are thousands or maybe high hundreds of people who are extremely passionate about Damus, but I doubt Will gets zapped anywhere near enough to pay bills.
Zaps are one example of V4V, but there are also grands you could add to that. Right now we are talking about one of many apps in a niche of a niche.
I don’t see content creators abandoning the mindset of relying on multiple streams of income any time soon, using release windows and all that. V4V would have its place in all this on light content, or older content. But pure v4v requires a huge shift in mindset. Subscriptions and adverts rule the world for now. Baskers do exist, but all of them are struggling these days.
If people are willing to subscribe to a relay, I think they will be fine subscribing to a streaming service.
Yeah probably a mix for a while.
Yes. People could be willing to zap v4v on new up and coming artists, and then expect solid quality from subscription. Advertisement will always pay for media junk food. Everyone eats that shit, nobody wants to pay for it.
Make so that the protocol can accommodate all distribution models and leaves to the actors the right to set and accept conditions. Then, let healthy competition do its job.
The most honest answer when thinking about all this is: fuck knows
But how cool is it, that we have the option now to add V4V in a proper way? I would call it: Fuck yeah!
I think street performers is what we have now that most looks like zap fuel v4v.
TIL that the average yearly income for street performers in the US is 45k
🤔
Median income would be a better metric but still interesting. How much of that is via booked gigs though. I bet they draw income from a mix as well.
I always believed that in the music industry concerts should make the most profit and not streamings. Selling physical records was always overprized, because you had the record labels in between. Digital records now making the V4V model available and concerts are the main income. I think there is no black and white right now
