An article in the Wall Street Journal discussed the large amounts that music companies are willing to
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An article in the Wall Street Journal discussed the large amounts that music companies are willing to pay in contracts with some hip hop or rap artists. According to the article, these large contracts are “driven almost entirely by the rise of streaming services” such as Spotify and Apple Music. But the article also notes that “for many acts, it’s still tough to get a record deal.” Why is the financial payoff to streaming concentrated among a relatively few artists? Shouldn’t streaming make it easier for all artists to get recording contracts?
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The rise of streaming services has indeed transformed the music industry allowing artists to reach a global audience without the need for physical dis...View the full answer
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