The music industry often predicts future trends in other media. This episode uses Taylor Swift as a case study to explore the evolving business models, from physical sales to streaming and merchandise, and questions the sustainability of current streaming economics for most artists. It highlights the industry's constant search for a "next $20 product" and suggests that the era of cheap streaming may be ending, with implications for how all media industries will monetize content and support creators.
I have this theory that music is usually about five years ahead of the rest of media in terms of its relationship to tech—whether that’s new formats based on new tech, like vinyl to CDs; new business models like streaming; or simply being disrupted by new kinds of artists who use new forms of promotion like TikTok in unexpected ways. I’ve always thought that if you can wrap your head around what’s happening to the music industry, you can pretty much see the future of TV or movies or the news or whatever it is, because the music industry just moves that fast. I was talking about this with my friend Charlie Harding, the co-host of Switched on Pop, and he said that he thinks the upcoming Taylor Swift Eras Tour is itself the end of an era in music — that the age of cheap streaming services is coming to an inevitable conclusion, and that something has to change in order for industry to sustain itself in the future. So, in this episode, Charlie and I walk through a brief history of the music business—which, despite its ever-changing business models, is permanently trying to find something to sell you for $20 whether that’s the music itself, all-access streaming, merch, and even NFTs—using Taylor Swift as a case study. We map her big moves against the business of music over time to try to see if this really is the end of an era. And maybe more importantly, to try and figure out if the music industry can sustain and support artists who are not Taylor Swift, because streaming, all by itself, definitely cannot. Links: Switched on Pop Charlie’s first appearance on Decoder: Good 4 who? How music copyright has gone too far - The Verge Why Amazon VP Steve Boom just made the entire music catalog free with Prime - The Verge Spotify launching in the US at 8AM tomorrow, open to all pre-registered users - The Verge Metallica sued Napster 15 years ago today - The Verge Taylor Swift calls Apple Music free trial 'shocking, disappointing' in open letter - The Verge Taylor Swift ver