course material

1. MUS3016 Music And Wellbeing
Answer
Covid Impact On The Music Industry
Introduction
The music industry is a compelling, ever-changing industry with a rich history. This position
paper will explore the effective funding and support for the music industry as a sector in
response to the effects of Covid-19. The music industry has been around for hundreds of
years (Allinson, 2022). The industry has evolved from small recording studios to a major
global player in recent decades (Allinson, 2022). The way in which music is created as well
as distributed has seen some dramatic variations. The global consumption of music and the
globalization of the diverse types of music has been further boosted due to the rise of
internet in the late 1990s (Wikström 2020). This has further set up a butterfly effect that
affects artists and musicians inadvertently on how they are paid or compensated (Daniel
2019). Earlier record labels were predominantly relied upon by the music industry and the
music preferences of the population were mostly influenced by the music that was being
circulated through the records at that time (Wikström 2020). However, the early 2000s saw
a boost in the power dynamics of the music industry and mobile phones came up to be quite
popular. This resulted in the rise of music streaming which increased the supply pool and
gave power to the fans and listeners to judge what they liked or disliked, as opposed to
record labels which dominated the market and limited choices (Wikström 2020). The
evolution of the music industry did not stop there as the entry of social media has been
considered to be revolutionary for the music promotion sector as well (Iatropoulou 2021).
Thus, more features were included in order to keep the audiences and listeners
entertained. The industry is now increasingly vulnerable to advances in new technologies
and changing consumer preferences (Allinson, 2022). To grow and compete effectively, the
industry must continue to develop and refine new processes. This position paper will look
at the effects Covid-19 has had on musicians by focusing on streaming, sales, and
advertising. The paper will also illustrate on the streaming sector within the broader music
industry. It also addresses the long-term private-public supporting mechanisms questioning
what can be the gains from the long-term.
Discussion

2. Culture & creativity are important in their own right because they offer opportunities to do
things differently and bring something fresh to society (Khlystova, Kalyuzhnova, and
Belitski 2022). They also spur innovation and provide more opportunities across the
economy. Every culture is different and their behavior and mode of listening to music are
also different. This means that music is treated differently in different cultures. This
includes helping to create and diversify jobs that involve music, increasing economic
efficiency, powering entrepreneurship in music industries, and benefiting society in
numerous ways (Tulalian 2021). Music is a powerful force in one’s culture and it has been
around for centuries. It inspires creativity, helps to make tough decisions, and it even
motivates to complete tasks. Music can be used as a tool for learning as well as for healing
(Parc and Kim 2020). With the emergence of mobile phones and streaming music has
become more easily accessible for everyone who wants to listen but were unable to
purchase records due to its high prices (Seetharaman 2020). As this paper mainly focuses
on the streaming sector within the broader music industry it is necessary to highlight its
significance by illustrating its contents and what comprises the sector. This segment will
also state the funding elements of this sector. The streaming sector consists of music
streaming services or platforms that enable their users to access and listen to podcasts, and
music, and also watch music videos (Parc and Kim 2020). The features that are used by
these services and platforms include automatic personalization of playlists, song
recommendations based on choices, and connectivity over browsers and applications that is
purely hassle-free. As of 2021, the global market size of music streaming was valued at US
$29.45 billion and it is also expected to grow at a fast rate (Jeannotte 2021). This market
expansion is due to the increased usage of smartphones and devices as well as the
penetration of digital and music streaming platforms. The Covid-19 pandemic only sealed
the destiny of streaming platforms as it saw a huge boost (Sim et al. 2022). The highest
average times for streaming are led by the Gen Z but almost 68% of the adult population is
also into music streaming services (Sim et al. 2022). The majority of the streaming services
use advertising or paid subscriptions to generate revenue and fund the platforms. A well-
known example of this is Spotify which is considered to be the global leader in music
streaming (Taylor, Raine and Hamilton 2021).
The music industry in the UK before the covid-19 pandemic was thriving and healthy. There
were many artists, both famous and unknown, who thrived in this environment. It was a
diverse, profitable market with a wide range of artists and genres. The industry was at its
peak when covid-19 hit in 2019 (Hall, 2020). Because of its spreading nature, covid-19
affected many of the most successful artists, either economically which is the majority of the
case, or terminally, leaving a gaping hole in the industry (Taylor, Raine, and Hamilton 2021).
The music industry then became affected by the pandemic and the world's culture changed
drastically. This change was reflected in music as well. All the major pre-existing sectors
within the music industry like the music licensing sector, recorded music sector, and live
music (mostly) have suffered Covid-19 implications (Seetharaman 2020). This also
simultaneously boosted the digital music industry. However, the effects of the pandemic on
the digital music streaming platforms have been regarded as positive as the period

3. witnessed a boost in usage of streaming applications and visitations by audiences (Davies
2021). Boosts in sale means they were able to gather more funds than anticipated.
The covid-19 pandemic has had a significant impact on the music industry in the UK. There
is also a lack of support for new musicians as venues and bands are struggling to find
work, although recently, the situation has become much better (Hall, 2020). A typical
symptom of the pandemic is a sudden and dramatic loss in ticket sales for concerts,
particularly for bands that have been successful for many years. The lack of audience has
led to a decrease in revenue and an increase and some financial losses (Mastnak 2020).
This can be detrimental to artists who are trying to cultivate new audiences while they are
struggling with the loss of their old genre of music. The Covid-19 pandemic has had a huge
impact on the music industry in the UK. The pandemic caused large numbers of deaths and
a lot of people are still unable to work due to the virus (Spiro et. al., 2021). This has led to a
decrease in live performances and gigs, which is damaging because these events are an
important source of money for musicians. The market demand for music (concerts, CDs)
has decreased due to the effect of the virus. The income and demand of the music industry
have decreased, which has affected all musicians in one way or another. This decreases all
musicians’ income, which has affected all musicians.
The cultural and creative sectors (CCS) have been a major driver of the ability to understand
history and culture, create new ideas, and innovate. The CCS is also the largest employer in
the UK, with 5.4 million jobs, and without them, one would be missing out on some of the
most talented minds (Taylor, Raine, and Hamilton 2020). The CCS sectors, for instance,
performing arts, cinema, museums, festivals, live music, and many more have suffered the
most due to the pandemic which has made social distancing the norm. There was a sudden
drop in the level of the income earned by these industries and as a result, there was
financial instability which again resulted in the wage earnings of the workers to reduce
further (Spiro et. al., 2021). As far as the CCS sectors are considered from an online
perspective, those sectors viewed an upsurge of demand thereby leading to an increase in
the rate of profit margin. This happened because, during the lockdown, people were unable
to move outside their homes and viewed the cultural shows through online streaming.
Globally, the music industry is divided into three parts, namely – live music, which
predominantly is obtained from the selling of tickets to shows where live performances
were carried on, and recorded music, where the revenue generated comes from streaming,
physical sales, digital downloads, and synchronization revenues such as licensing of music
for games, advertising, TV, and movies, and lastly, the publishing (Wikström 2020). All these
divisions of the music industry generate global revenue of $50 billion (Prey, Esteve Del Valle
and Zwerwer 2022). The following diagram is depicted where the global music industry
revenue for the years 2014-2023 is shown in billion dollars.
Source: (Brambilla Hall, 2020).

4. Effect Of The Covid-19 Pandemic On The Music Industry
While the overall effects of the pandemic on the global music industry may seem bad but a
huge advantage or positive side is the growth of the digital music streaming platforms and
services such as Spotify, Apple music, and so on (Taylor, Raine and Hamilton 2021). The
demand for such services and platforms has become global and also sets the future of the
music streaming sector. As more individuals had to sit home and wait out the pandemic,
they shifted to digital and internet related services which were easily accessible as well as
easy to use (Sim et al. 2022). The greater number of users and high demand resulted in
more advertisements and paid subscriptions as the free trial period are limited (Simon, J.P.,
2019). More advertisements of other brands and companies make sure that those brands
reach the population and simultaneously the platforms are able to make money. Thus,
Covid-19 has increased the funding and financial support for the music streaming sector
(Tulalian 2021). However, the covid-19 effects on the rest of the music industry are quite
bad considering the damages and downfalls.
1. Sales And Streaming
In 2020, it was reported that the physical sales component, or the supply of the final
product of music like CDs to the consumers of the music industry has reduced by one-third
of the total music revenue due to the upsurge of the covid-19 pandemic (Hall 2020). It has
been observed that after the onset of the pandemic, the way of listening to music has
changed in many areas. For instance, in China, Tencent Music Entertainment (TME)
announced that the behavior pattern of the listeners had entirely changed during the
lockdown (Hall 2020). The change of the consumers was inclined toward the usage of home
applications like TV and smart devices. According to the Group Vice President of the TME
Content Corporation Department, Tsai Chun Pan, the social entertainment services were
indeed impacted largely due to the pandemic, although the first quarter of 2020 did witness
a moderate recovery in the revenue of the music industry by 70% year-over-year (Sim et.
al., 2022). The users who paid online to listen to music reached a peak of 42.7 million which
was approximately a 50.4% increase year-over-year (Sim et. al., 2022). This shows that
although physical was down, the online streaming of music had remained an important part
of the human lives and continued to touch their hearts just like the physical concerts did.
A popular music app, Spotify, which now had much more subscribers than before, had also
witnessed a change in the routine of daily consumers for the taste of relaxing genres (Yeung
2020). There was concern about the amount of music that was consumed, however, the data
shows that initially, there was indeed a fall in the streaming of 7-9%, this reduction was
recovered at a later stage (Sim et. al., 2020). Along with this, the demand for music videos
has also increased due to the change in behaviors of the consumers during the pandemic
where the focus has shifted to more newsfeed media like the TV and the listening to music
during gym hours has also shifted due to the closure of the gyms (Galea, Merchant and Lurie
2020).

5. 2. Advertising Spend
Globally, the amount that is spent on advertising for the music industry has also reduced to
a large extent. During the first quarter of 2020, it was observed from a survey that was
conducted by the Interactive Advertising Bureau, 2022, that advertising was paused by a
quarter of the buyers and brands of music media. It was also calculated that a further 46%
had lessened their amount of spending (Wikström 2020). The digital ad spending had also
lessened by one-third amount and this would affect the music channels which support the
ads. As a result, the revenue generated by the entire music industry and the individual
income of the music artists will also be affected. Spotify said that its quarterly ad targets
were missed because of a change to the timeline when companies are spending.
3. Distribution
When it comes to the topic of distribution, it is observed that many music artists are
postponing their releases of music to the latter half of the year because they are unable to
utilize the tours to popularize or advertise their new albums. Many new concerts and live
shows have been canceled due to the prevalence of the covid-19 pandemic leading to zero
revenue generation for live concerts (Yeung, 2020). Since the music industry is divided into
three halves, one part (live music) of the industry earns zero revenue, then automatically,
the revenue of the entire industry is cut into one-third. If the ticket and merchandise sales
are kept aside, if there is a complete shutdown for 6 months, then there will be a monetary
loss of $10 billion in sponsorships (Yeung, 2020). Moreover, the post-pandemic change in
the future is uncertain. Building back the customer base will be a real challenge. According
to a recent survey (Hall, 2020), it was concluded that, if there is no proven vaccine then less
than half of the US customers are planning to go to concerts, movies, amusement parks, and
live shows. The music artists and the bands will be affected by this to a large extent since
most of them are earning 75% of their total income from live shows (Hennessy et. al.,
2021). According to the empirical data, it was observed that the revenue that is generated
from conducting live shows is received by the top 1% of the performers (in 2019 it was
60% and in 1982 it was 26%) (Habe, Biasutti and Kajtna, 2021). There are several different
ways the industry is addressing to nullify the impacts of the covid-19 pandemic.
Private-Public Support Mechanisms
There have been several fundraising campaigns for the industry from around the world that
are made available to the common public and whose revenue has been largely affected by
the pandemic. These communities include donations and grants from the Universal Music
Group (UMG), Live Nation Entertainment along with other streaming giants, for instance,
Amazon Music, YouTube Music, Spotify, TIDAL, and much more (Deng, Lyu, and Xu 2021).
Tencent Music Entertainment is China's largest music platform has been joining efforts via
its parent company. There have been instances where a large number of providers have set

6. up mechanisms where the consumers can directly donate to the funds which they would
like to donate. There have been other instances that include hardship funding plans for cash
flow shortfalls stemming from disruptions in content production. Responses have been
generated from the public sector too. Globally, there have been instances where the
governments have responded by developing aid packages. These packages have been
developed especially for the industry and the workers who have been badly affected by the
catastrophe. This amount approximately added up to trillions of dollars. These
contributions have not only been specific to the music industry but the entire genre of art
and culture.
The Gains From Long-Term
There are major three record labels via which professional music artists usually release
their music or album. These three record labels are UMG, Sony Music, and Warner Music.
There are alternative options of publishing through an independent publisher too. This
model represents 97% of all recorded music by market share and may experience
fluctuations but disruption is unlikely (Tschmuck 2017). Moreover, the amalgamation and
role of composers, songwriters, and post-production engineers in the evolution of music are
anticipated to change, although the onset of the pandemic has normalized remote working.
The work is equally distributed as the streaming platforms are closely linked with the
artists and labels while the distribution of music will be dealt with by the event promoters
and the venue operators. The trends which generally underlie the music industry are
enhanced by the crisis. This enhancement depends upon the importance of streaming to the
music industry which has increased from 9% to 47% of the total revenues within just six
years as depicted in the diagram (Hall, 2020).
Source: (Brambilla Hall, 2020).
As mentioned earlier, the pandemic has changed the patterns of consumption along with
the spending patterns of the consumers. There have been instances where the consumers
have taken on an added subscription since they are sitting at home while there have been
cases where the customers have opted out of the subscription charges since they are
undergoing a financial crisis during the pandemic (Fink et. al., 2021). The services which
were pre-equipped with the dual business model had survived such a crisis and they
retained their customer relationship. It's important to maintain an adaptable monetization
strategy since that will open up new ventures for the music industry to work hand in hand
with other industries shortly. For instance, the amalgamation of songs, musical scores, and
compositions into gaming and TV. However, the revenue generation through this
synchronization process comprises only 2% of the total revenue generated through
recorded music (Fink et. al., 2021). In China, during the pandemic, the platforms which
streamed music had introduced a new way of generating revenue which accrued to the
tipping of the music artists.

7. The entire world is going digital. The music industry is no exception. Therefore, the
distribution of music will be shaped by third-party platforms like discovery and consumer
behavior. For example, during the covid-19 pandemic, a live rap concert was hosted by
Fortnite that allured over 30 million live viewers online and also promoted the music artists
in a brand new way (Sim et. al., 2022). This serves as a suggestion in itself that the music
industry is trying to implement this shortly without having to rely upon streaming and
physical performances. To reach out to music lovers, streaming is the best possible way but
it makes the consumers more reliant on third-party platforms. Usually, a portion of the
revenue generated from the streaming of the music videos is paid to the rights holders by
the platforms, for example, Spotify pays around 65%, and the more the number of streams,
the more is the compensation (Sim et. al., 2022). This has two direct implications for the
music industry. Firstly, it encourages the streaming services to move the flux of the
consumption drive toward the audio forms which are non-licensed. It has been observed
that this shift had already started way back in 2014. Music listening, in general, has
decreased by 5%, but there's been an increase in spoken words across all age groups (Sim
et. al., 2022). Secondly, it has been observed that during and after the pandemic, the newly
made songs have become shorter and snappier. This has been predominantly due to the
reason that the number of individual plays needs to be boosted. According to Tsai Chun Pan,
these short videos on music have become the new trend that is in vogue. These short videos
have been helpful for the artists to generate new opportunities as well as generate new
content promotion and also Distribution Channels For instance, TikTok has already evolved
the way their consumer’s stream music and is also developing new strategies for this
streaming and this is anticipated to contribute to these developing dynamics.
Position On The Industry And Sector
It is quite clear from above that the overall traditional music industry has suffered a lot just
like any other business industry due to the restrictions and other problems caused by the
Covid-19 pandemic (Sim et al. 2022). However, the introduction and rise of digital music
and streaming services and platforms have provided the industry with a clear way to move
forward. The future of the music industry has already been reserved for streaming and
digital services. The uncertainties and critical times like Covid-19 will no doubt be difficult
but only the tough and innovative will survive as rapid innovations are required for any
business or industry during such ambiguous times (Taylor, Raine and Hamilton 2021). The
service has also become more customer-centric than before which is why there will be both
challenges as well as lucrative opportunities (Taylor, Raine and Hamilton 2021). Some
observations and possible recommendations for faster growth of the music industry
specifically the digital or music streaming sector will include;
More personalizations: Incorporating various technology as well as automated processes
that can completely read and identify the listening habits of the users and tailors the music
recommendations accordingly so as to make it more attractive for them.
Live streaming: Through enhancing live streaming the communication and intimate

8. connection between the audiences and the artists can be restored like the earlier and
traditional times. This way will also enable the artists to perform their music more
authentically.
Original content: Streaming platforms need to invest in gathering original content. This is
further enhanced due to the streaming services of YouTube and Netflix.
Premium prices: The subscription rates of the streaming platforms will rise due to the
upsurge in demand as well as the higher demand made by music labels and artists.
Recommendations
Based on the research and analysis conducted, the following things can be done to enhance
the music industry and help musicians and artists address their individual issues of income
and recognition. The recommendations are as follows;
As streaming platforms and services are the new normal for the music industry, the sector
can introduce ways in which artists are able to introduce themselves and their works
through direct interaction with their audiences.
Individual channels for musicians so that they are able to better promote their artworks and
new albums directly to their fan following groups.
Artists can also be used to create social and current environmental awareness which can
help the music industry and individual sectors to contribute to corporate social
responsibility, to enhance the overall image and engagement of the industry, sectors, and
individual musicians.
Ways to enhance earnings for the musicians by allowing them to raise funds for their
channels and the excess amounts can be used for social welfare.
Enhance the social media presence of artists and musicians by linking the channel platforms
with their personal accounts.
Creating chances for musicians to enhance their social image and existence by speaking on
topics and issues that are taking place currently and enabling them to contribute in social
development so as to enhance the image of the entire music industry.
Conclusion
The music industry is changing, and not for the better. Streaming services such as Spotify
and Apple Music are becoming the new norm, which means less money for artists. The
decline in CD sales has also impacted the industry severely. Even worse, the internet has
made it easier than ever to illegally download music so there's no way to know how many
people are buying CDs. Spotify, a popular streaming service that pays royalties to artists, is
on the rise. There are a few different ways for the company to generate revenue: users pay
for the service and/or listen ad-free with advertisements or become premium members
who don't have to listen to ads. The simplest service to build with this type of revenue
model is a streaming radio station that's ad-free for members. With the rise of streaming
services like Spotify and Apple Music, the music industry is in a state of flux. That said, there
are many positives on the horizon for artists and labels alike. Streaming services have
created a new economic model that is as profitable for artists as it is for labels. With this

9. new model, artist royalties are now paid based on streams rather than album sales or
downloads. This new model has made streaming services the main source of artists' income
and the most valuable partner for labels. Still, some musicians have struggled to find
stability in this new digital world. For many musicians, a side hustle is an essential source of
income. Many millennials are trying to be their boss through these alternative sources of
income like freelance work. The music industry is changing and evolving rapidly. New
artists are emerging every year, and with the emergence of streaming services like Spotify
and Apple Music, it has become easier than ever for people to find new artists to listen to.
Technology has also made it easier for some musicians to release their music
independently, giving them more control over the content they create and how they want it
heard. The music industry is changing after the pandemic. The number of musicians and
audience members has decreased significantly. Concerts are becoming rare, and ticket
prices are skyrocketing (Haynes and Marshall 2018). Younger generations are also likely to
have less disposable income, because of the higher cost of living in general post-pandemic.
To offset some of these issues, the music industry will need to adapt to survive. Artists must
contend with the acquisition of their work by corporations who will strictly regulate what
they do with it, and how much they get paid. In this time of rapid change, musicians should
find new ways to reach their audiences without going through the middlemen. In the last
decade, aspiring musicians have had new opportunities and ways to produce their work
outside of straightforward commercial music production (Haynes and Marshall 2018). This
has led to an era of independent music production that has no precedent in centuries.
Artists should also find new ways to engage audiences, such as live performances, digital
distribution platforms (such as Spotify), or crowdfunding services like Kickstarter.
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