It is rumored that there are plans being made to cease the free streaming of music on major sites. This could possibly happen in a span of less than five years, and if it does, what will happen to music as we know it now?
According to Digital Music News, three major label companies are planning the total destruction of free streaming of music, mainly on Spotify and YouTube. This will only occur if these labels can successfully pull off implementing new stipulations on the terms with which these sites have access to music.
As per Variety, YouTube claims to support artists, providing better pay especially for posted videos that are backed by ads. This statement could be a shot taken by YouTube towards their streaming competitor Spotify.
However, the site has still been under scrutiny by the Recording Industry Association of America (RIAA), feeling that artists deserve better in terms of compensation.
The RIAA further stated that despite the claims made by YouTube, there is still no clear distinction between the way that the company, along with Spotify, treats music artists.
Spotify's compensation is dependent on the number of plays, while YouTube has full control in dictating which artists get paid and how much. The RIAA also pointed out that videos are significantly costlier to create, which somewhat debunks YouTube's claims about artist compensation.
Engadget stated that it is impossible for musicians to live off streaming royalties alone. The threat of tightening music licenses is predicted to be effective in creating a better the system for benefitting not just artists, but consumers as well.
However, there is a possibility that piracy could come back in a big way if streaming comes to a full stop. Music lovers will just have to watch how this battle unfolds in the near future.
