So Much Tech

So few winners!

 

Ahhh, and that’s the important part, isn’t it?

Here, read THIS (gifted) article from the NY Times.

Or, I can just cut to the chase for you:

You can’t be a winner without the ability to turn popularity into cash and keep people glued to an app as their tastes shift. Very few companies have been able to consistently do both in the past decade.

How did it happen that we have so much technology and so few winning tech companies?”

You can include Spotify in that list too. They are still not making money.

Despite its foundation in music, Spotify has always behaved more like a tech giant, spending lavishly and at times questionably, considering the company posted a net loss of $39 million in 2021 and $580 million in 2020. The music companies argue that even though Spotify definitely is not on the same level as an Apple or Amazon, its showy spending on offices, salaries, advertising, events and other endeavors — particularly a recent $300 million investment in the Barcelona Football Club that hardly seems business-critical — make their pleas of poverty, at least when it comes to royalties, deeply unconvincing.”

As THIS ARTICLE in Variety says, “…deep in the dense legalese lies a heated battle over the billions of dollars in royalties generated by streaming services — one that pits the music industry against some of the biggest companies in the world. At stake is nothing less than the future of the music business and the livelihood of the American songwriter.”

Look, neither side in this music battle – the labels and the streamers – comes out smelling good, especially when you see how both treat the artists who actually write and make the music we love. Streaming – Spotify, primarily – has made it virtually impossible for the average artist to make a living.

And Spotify’s problems could explode if TikTok remains legally viable in America. The TikTok Music app will change Spotify’s reality the minute it’s available.

Streaming music is not a new idea. Steve Jobs had a working model with the very first iPod, which seems like decades ago – because it was!

Meanwhile, radio – commercial radio – with 18+ units every hour, and voiced-tracked dayparts even in major markets these days, is still shuffling along.

Despite the absurd debt loads taken to enrich the few, despite the exodus of real talent once consolidation happened (also a couple of decades or more ago), playing familiar – and the best new – songs, accompanied by the companionship provided by a trusted friendly voice, and warnings about imminent weather disasters, good old fashioned low tech radio is still viable.

Talk about miracles!