Posted by: Michael Mandel on June 23
Musicians have always claimed that they were exploited by the record industry. I was just looking at some numbers that quantify the “degree of exploition”. Here are the two numbers:
|Spending on recorded music||$11.9 billion||*|
|Total annual wages|
|paid by sound recording||$1.5 billion||**|
|*2003 data from "Communications Industry Forecast and Report"|
|from Veronis Suhler Stevenson|
|**2003 data from Bureau of Labor Statistics|
That’s an enormous gap—almost $12 billion in revenues on the one hand, and $1.5 billion in wages on the other. And yes, at least some of that $10.5 billion difference is going to musicians in the form of royalties, rather than wages. But it just goes to show how much risk is shifted onto musicians.
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