The Future of Music Coalition’s presentation yesterday at the San Francisco MusicTech Summit featured a pretty huge statement regarding streaming music services. As DigitalMusicNews reports, the Coalition’s Kristin Thomson stated that these services, like Spotify and Rhapsody, are “not a significant revenue stream for musicians, yet.”
Thomson then added that a survey of musicians revealed that most of them aren’t making any money from having their music streamed. And if they are, she said it’s “not enough to make a dent in their pocketbooks.” Just peep the photo from the Coalition’s presentation below.
If you think that’s bad, it gets worse for stuff like Pandora. Apparently 76 percent of the musicians surveyed haven’t received any royalties for the “digital peformance” of their recordings. Jeez.