Recording artists received just 12% of the $US43 billion that the music industry generated in 2017, according to a Citigroup report published on Monday, and led by analyst Jason B. Bazinet.
$US43 billion matches a 12-year peak that the industry hasn’t hit since 2006, the report said.
The proportion of the total music industry revenue artists are capturing has actually risen since 2000, when artists took home only a 7% share of the revenue.
But this increase is due in large part to the growth of concerts and touring as a revenue stream that is largely distinct from the intermediary of their music labels. Artists are still taking home a meager share of the increasing revenues in streaming for their music, where music labels and music streaming services act as intermediaries.
The report shows that “consumer outlays,” which includes streaming, concert sales, and purchased music, generated an all-time high of more than $US20 billion last year. But music businesses, including labels and publishers, took almost $US10 billion, while artists received just $US5.1 billion, the “bulk” of which came from touring.
If you want to support the artists, go to their concerts, because they do not get sh%$ from the record distributors.