Spotify doesn't make profit from music streaming, despite having over 400M monthly active users, because it pays two-thirds of all its revenue to the rights holders. - eviltoast
  • squidman64@lemmy.world
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    1 year ago

    Apple Music the music subscription service is different from iTunes the music purchasing store. When’s the last time you heard of anyone buying an individual song / album on iTunes?

    • olmec@lemm.ee
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      1 year ago

      I still buy music on iTunes. I prefer having my collection available on CD, but if I only want a single track or two, I just go to iTunes and buy the songs. This year, I think I bought 4 songs. It isn’t ton, but it is still in my mind.

    • 1371113@lemmy.world
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      1 year ago

      When’s the last time you heard of anyone buying an individual song / album on iTunes?

      I’m yet to hear a first time, and I remember when mp3s first became a thing.

            • 𝒍𝒆𝒎𝒂𝒏𝒏@lemmy.one
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              1 year ago

              It was purchased by Epic Games a year ago, who recently sold it to Songtradr, a licensing platform for background/‘mood’ music. Songtradr only retained 50% of existing Bandcamp staff (the rest were laid off a few weeks after the sale AFAICT, with the worst affected departments including Bandcamp’s editorial team and customer support. Epic Games handled the severance package, for some reason.)

              People are pretty upset about the editorial team being laid off because it provided exposure for smaller/niche artists in a weekly publication. I’ve never checked it out personally checked it out because I never knew it existed - wishing I had now

              Such a large layoff so quickly by the new owner feels like a sign of darker times ahead for Bandcamp IMO, seeing that it’s apparently been profitable since 2012 (Wayback link, new owners have nuked this from the site?). No need to milk the cow even more when the bucket is full…