Streaming won’t make up for the revenue lost by the lack of live gigs.
Although the COVID pandemic and the resulting change in consumer’s habits has driven streaming growth through the roof, any bump in artist income pales in comparison to the catastrophic loss in live music revenue.
In this recent post on MusicThinkTank, contributer Vasja Veber how a recent spike in streaming will still do little to make up for more than a year of lost gigs.
“Streaming can be a relatively steady source of income, but I believe it shouldn’t be the only one. Live events need to make a comeback, and fast. I’ve been managing an A-list techno DJ for more than a decade now and I can assure you that although recording revenue has gone up significantly, gigs are still by far the prevailing source of money”
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