Since its introduction in the early 2010s, music streaming has transformed the industry. Streaming has both fans and critics. One of the most notable critics is superstar Taylor Swift, who has questioned streaming’s ability to adequately compensate those involved in music creation. My analysis acknowledges her critique and looks specifically into how streaming services have affected all participants in the industry. While streaming initially decreased profits in the music industry as a whole, the industry has adjusted and has seen returns from this new model of music consumption. Streaming services increase benefits to all players in the music industry by decreasing piracy, increasing music discovery, and drawing consumers to other areas of the music market.
Major Themes in Economics
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"An Economic Analysis of the Effects of Streaming on the Music Industry in Response to Criticism from Taylor Swift,"
Major Themes in Economics, 23, 51-63.
Available at: https://scholarworks.uni.edu/mtie/vol23/iss1/5