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How economic factors affect the music industry

Culture has always had a relation to the conditions that surround it. Whether it’s films documenting a recent natural disaster, or a musician writing a song about their experience growing up, there has never been a shortage of content surrounding our reality (or even distorting it). For example, during the Great Depression in the USA, there were many films showing fancy cocktail parties in order to lift the spirits of people watching. Likewise, during the post-recession of 2008, many songwriters within the music industry have been writing about their success during the past decade which is relatable to fans. A great example of this is Sigala’s new song with Ella Eyre: The true story of the past decade has been a lot harder to understand that most people would imagine. With streaming on the rise, many traditional musicians that made their money via traditional album sales have struggled just to break-even with their music career. For a lot of people in the music industry, this is just the harsh reality. Only ten years ago, the housing market collapsed, there was mass unemployment across the world, and the entire music industry was caught in a big problem. But how do money and economic factors affect the music industry? That’s what we’re going to discuss in this article. Popular music has regularly […]

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