Young people nowadays get their music mostly via the internet. Music streaming companies are the rage nowadays, even though almost none of them are making any profit. Honestly, none of them deserve to.
I mean just look at the latest music steaming company on the internet, Apple Music. Just 2 weeks old, Apple Music has a $10-a-month streaming service. Not only that, you can try out the service for free in the first 3 months! Yes, there’s a 3 month trial period which allow you and me to try Apple Music for nothing.
Now a lot of people on the internet are talking about how music star Taylor Swift is refusing to put her new album on Apple Music because of the free trial period, a period when Apple Music will not be paying artists for their music, but I have a better question. How in the world is Apple Music supposed to make money?
Even if you take away the 3 month free trial period, it’s still just $10 a month. It might be great for consumers like you and me but how in the world is Apple Music supposed to make money at that price. Hell, a single on the shelf of a music store may cost more than that and we can surf their whole catalog for $10?
Other streaming service Spotify and Tidal are all losing money, and I see no way any of them is going to make a profit without a substantial increase in prices. There’s just no way around this. They need to all sit down and agree to a new price range. At the price they are quoting now, making a profit is a daydream.