Musicians' latest economic threat
In 1982, 26% of all global concert ticket revenue went to the top 1% of performers. Today, it’s 60%, according to research from the late Princeton economist Alan Krueger. “The middle has dropped out of music, as more consumers gravitate to a smaller number of superstars,” Krueger writes in his book, “Rockonomics.” This hollowing out of the middle is happening as performers increasingly rely on concerts to make a living, as streaming technology devalues recorded music. Performers today make about three-fourths of their income from concert tours, compared with around 30% as late as the 1990s.
Staff Data Engineer
Sad, though - makes me think the old broadcast tv "truism" about the most successful content being that which is least objectionable.? Is it really true that most folks just want to slip into a river of lukewarm, bland content?? Scary implications that go way beyond content preferences...