On Music

Alan Krueger, former chairman of the President Obama’s Council of Economic Advisers wrote Rockonomics, which paints the modern music industry as metaphor for the larger economic forces which dominate our time: tournament economics, monopoly lockout, rent-seeking and rapid digital disruption. Krueger also advocates for a radically de-centralized restructuring of the music industry, favoring broader artist rights and direct payments. Krueger’s thinking strongly influences our work at MAJR.

Alan Krueger, former chairman of the President Obama’s Council of Economic Advisers wrote Rockonomics, which paints the modern music industry as metaphor for the larger economic forces which dominate our time: tournament economics, monopoly lockout, rent-seeking and rapid digital disruption. Krueger also advocates for a radically de-centralized restructuring of the music industry, favoring broader artist rights and direct payments. Krueger’s thinking strongly influences our work at MAJR.

It’s not simply that many labels took on the business of many artists; it’s that very few labels manage all the business of all the artists.

In fact, the Big 3 (Sony Music Entertainment, Universal Music Group, Warner Music Group) control over 80% of the music marketplace.Not surprisingly then, the top 10% of music recordings drive 99% of listening streams [3] — even with over 500k new tracks being added to major streaming platforms every month.

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