In a moment of clarity, Billboard admits that album sales don’t tell the whole story of record label revenues. According to Billboard, “there’s more to the story. Recorded music looks better when streaming gains are taken into account.” As I’ve been arguing for a while, record labels earn revenue from a number of sources well beyond album sales. So the recent decline of albums and tracks is rather irrelevant when considering industry profits.
I’ve been writing about what I call the piracy panic narrative for a while. The piracy panic narrative goes that file-sharing is piracy, piracy is stealing, and this stealing hurts recording artists. In this simplistic view of the recording industry (constructed by the major record labels), we are bringing about the death of music by file-sharing, ripping CDs, and streaming music. The main problem with this argument being that piracy is not stealing and these activities are not “piracy,” in the first place. However, the recording industry repeatedly makes these claims beginning with Metallica in 2000.
Now Taylor Swift has gotten into the discussion. She states “Music is art, and art is important and rare. Important, rare things are valuable. Valuable things should be paid for.” Continue reading