A new campaign by The Musicians’ Union and The Ivors Academy targets the hot topic of streaming royalties. The campaign seeks to “fix streaming now” and address the “broken” streaming industry. Is it time the streaming industry was reformed?
Streaming Royalties: Keep Music Alive Campaign
Online Music streaming has undoubtedly changed the way we consume music; a tap of your screen gives instant access to virtually any artist or song you can imagine. Obviously, this has led to a dramatic reduction in physical media sales, as well as a reduction in the royalties collected by artists.
This has pushed many of us into relying on an income from the live industry; a precarious position which has come to a head following the COVID-19 pandemic.
The Ivors Academy and The Musicians’ Union have launched a joint campaign, The “Keep Music Alive Campaign”, which seeks to redress that balance. Graham Davis, CEO of the Ivors Academy said:
The current models are broken. It is wrong for a few corporations to make billions from streaming while thousands of creators seek hardship support as their livelihoods evaporate.
Time For Reform?
This campaign comes at a timely moment for many of us; income from traditional live shows has disappeared overnight with few alternatives. Many musicians are turning to live-streaming their shows. Subsequently, corporate platforms are seeking to cash in there too. Without a doubt, creators and musicians deserve a better deal.
The Keep Music Alive campaign aims to ‘fix streaming’ and is calling for industry stakeholders to “agree an equitable, sustainable and transparent model for royalty distribution in the streaming era”. To me, it seems outrageous that musicians are having to seek charitable aid at a time when others in the industry are making billions from their contribution.
What are your thoughts on this controversial issue? Would reform to the streaming royalties model make a difference to you? Do you think this is an important topic and campaign? Let us know, we’d love to hear from you!