Despite the fact that artists are increasingly making a living from a combination of touring, brand partnerships, merchandise and synch deals, the record label world still refers to these income streams as ‘ancillary’.
The halcyon days of the £10 CD are no more and the music industry is adapting accordingly while platforms such as Spotify give access to a huge catalogue of music for £10 a month subscription packages.
And the industry is still alive and kicking – Universal and Sony post healthy operating profits each quarter while the independent market is thriving thanks to the likes of Beggars Group and Domino and a number of acts moving from majors to other indie outfits.
However, some are still clinging on to the old business model including artists such as Thom Yorke of Radiohead who called the likes of Spotify “the last fart” of “a dying corpse”.
But what do you think? Is the music industry too fixated on record sales? Answer our poll below…