Fair Music: Transparency and Payment Flows in the Music Industry
Musicians are struggling to balance their passion for music with the need to be knowledgeable and vigilant about the financial rewards for their talents. Of the $15 billion in global recorded music revenue for sound recordings reported by the IFPI for 2014, only a small portion of the money beyond the initial recording advances ultimately makes its way to artists as ongoing revenue. Faster release cycles, proliferating online services, and creative licensing structures make finances and revenue even more complex to understand and manage. To strike the right balance, we must address a difficult question: Are the compensation structures fair?