Music business: Is musical talent the new commodity?

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Sat, 2021-01-16 17:02

BERN: Monetization of an artist’s craft has always been a tricky issue. It is also a bifurcated one: Very few top names earn big money and the vast majority just get by, if even that.

That holds true in all art forms, but particularly in the music industry. In 2017 the top 1 percent of recording artists dominated income in all categories — 78 percent of music sales, 68 percent of live performances, and 56 percent of merchandise.

Shakira (L) signed the rights of her music titles to Hipgnosis Songs Fund and in recent months Bob Dylan sold the rights to 600 of his songs to Universal Music Publishing Group (UMG) in a deal believed to be worth more than $300 million. (Shutterstock/File Photos)
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