Since the traditional recorded-music business models have…
“Since the traditional recorded-music business models have drastically changed, there is truly diminished income derived from recorded music by artists - both current and catalog. The touring industry has become much more important as a majority revenue stream and the ancillary fan experiences and promotions that may be derived from it.”
About This Quote
Source Speech: Industry Panel Discussion, 2022
Traditional music sales have collapsed, making touring the primary income source for artists, supplemented by fan experiences and promotions.
In simple terms: Music sales fell, touring now pays.
Key Takeaway
Focus on live shows and fan engagement.
Themes
music industry
revenue streams
touring
fan engagement
Mood
pragmatic
analytical
Type
industry
business
insight
When to use this quote
- Concert planning
- merchandise sales
- VIP experiences
- brand partnerships
- crowdfunding
Key Concepts
Economics
digital disruption
artist sustainability
Questions to Reflect On
- How can emerging artists build sustainable touring models?
- What alternative revenue can complement touring?
A Different Perspective
Live income can be volatile and depends on market conditions.