Music sales are up across the board for the second year in a row, according to new research from New Scientist.
However, there are some notable differences between the UK and US, and the researchers say it’s time for companies to pay attention to the different ways that different countries’ music industry is structured.
Read moreThe report analysed the sales of nearly 500,000 music tracks sold in the US and Europe in the first half of 2018, looking at sales by genre, artist, and song type.
This information, combined with other data from Spotify, Beats Music, and Apple Music, gives a clear view of how different countries have different ways of funding their music industry.
It’s a big difference in the way that different regions have their music production models.
“The UK’s system is much more structured around the production of the records themselves,” says James O’Reilly, Head of Music at the University of Kent.
“UK labels are often able to get much better deals for artists with higher-profile, higher-rated artists.”
O’Brien says the UK music industry needs to learn how to better manage the revenue it makes, which is why, for example, it’s better to invest in new, high-quality producers and less in “tutoring” labels.
“A lot of these labels that have more money are more likely to hire the best people to work on their record labels,” he says.
“And then there’s also the fact that the music business itself is more fragmented.
There are fewer artists in each industry.”
So what’s the best way to spend money on music?
For the researchers, the best strategy would be to make sure that all of your investments go towards the right artist, as well as a mix of artists that will give you the most bang for your buck.
The UK, by comparison, has a “one-stop-shop” approach to allocating its money.
For example, the UK Music Industry Association says that all music companies should be transparent about their music revenues and should disclose the income they earn.
But, if you’re still stuck with a blank check, there’s a number of companies that offer “shares for sale” that you can use to invest.
These include artists such as The Beatles, The Smiths, The Beatles 2, and The Rolling Stones, and even the US indie label The Killers, which says it has a business plan for the future.
“You can use those to make a very good case for yourself,” says O’Connor.
But the best advice for musicians looking to make more money is to look at how your music can benefit from other sources.
“This is one of the big challenges in the industry right now, because there’s so many different ways to earn money from music,” says Simon Wood, CEO of Music UK, an independent music trade association.
“We know that there’s lots of money to be made in the online world, and we’ve seen some very interesting experiments that have shown that.
But that doesn’t mean that there aren’t lots of people out there who are making a lot of money.”
There are two ways to make money online: through streaming and through adverts.
“It’s important to understand how to differentiate between the two,” says Wood.
“One of the things that’s really good about adverts is that they’re really simple to understand, so it’s really easy to understand.
You can spend less time in a sales funnel than you would with a streaming campaign.”
But, Wood cautions, “you have to be careful about making the wrong call.
There’s no one-size-fits-all way to make any money from digital music.
You have to do what works for you, and that might be streaming or adverts.”
You can buy a ticket to a gig at the next gig in the same way you would buy tickets to a concert.
“But you can also get paid more if you play at a higher-capacity venue,” says Matt Meehan, CEO and founder of Soundcloud.
The researchers also point out that a lot more music is available online than ever before. “
In fact, if a gig is on a Friday, you might get paid less because the venue isn’t full on a Saturday, but you still have that revenue stream.”
The researchers also point out that a lot more music is available online than ever before.
“Music has never been more accessible,” says Meeahan.
“A lot more people are listening to music on Spotify than ever, and more people download music.”
If you are an artist who doesn’t have an audience, or a label that doesn’s only made a few records, or is in the studio for just a few weeks, then the value of your music might be much lower than if it’s a year-and-a-half or more.
“To maximise your potential, it is important to get in touch