Smashing Pumpkins’ Billy Corgan Addresses Future of Online Music Streaming Services
The tech world is abuzz with the unveiling of Apple's new music streaming service and it's sparked plenty of conversation online. One of those weighing in on music streaming is Smashing Pumpkins leader Billy Corgan, who shared his opinion on the future of music streaming in a series of tweets.
"In my opinion, the future of streaming services will be free, but it'll be Fortune 500 companies/Madison Avenue picking up the tab," begins Corgan. "It'll also reward artists with deeper catalogs like Beatles or Prince or Zeppelin or oh yeah, Smashing Pumpkins and destroy [the] pop market beyond [the] Top 10."
He adds, "The fantasy that streaming helps break new artists is only a smokescreen to keep social media heat off IPOs or selling hardware. Eventually the big 3 or 15 or whatever will have to revenue share, or the true artist class will revolt, especially those who own/control [their] catalog. Here's a hint for eco-friendly consumer: NOTHING is ever free. And we're finally seeing [the] reveal of how much these tech companies NEED music. And like I said on CNBC, once artists figure out their TRUE value, all hell will break loose. Hence Apple trying to get ahead of the game now offering as Apple with sweetheart deals to a chosen few. But they'll face [the] same thing as others before, where there's winners, there's losers too. And these companies make [the] same mistake over and over, ignoring CORE artists over those that are in their mobiles or that generate headlines."
When one follower brought up how difficult the change might be for a generation raised on "free" music, Corgan responded, "There is nothing wrong with FREE music, but please don't buy media narrative that companies offering it don't have a MUCH bigger upside. And we're talking about tens of thousands of artists not receiving a JUST/FAIR compensation for your interest (and what that interest SELLS). And honestly, that's [a] narrative tech coaches rely on: that they're the benevolent forces that's booking you up with free stuff. Malarkey! Tech companies need you clicking on things, viewing ads, buying phones, tablets, their altruistic business models that they're saving [the]world. And music is one HIGHLY EFFECTIVE way (but not only) of getting you into their hubs/spheres/.coms and for that artists receive a pittance."
Corgan concluded his commentary on the matter by stating, "Think of it this way: If you find yourself defending the biz practices of a billion dollar corporation against that of a lone artist, you're lost." Check out his tweets on the matter below:
You've read Corgan's tweets. What's your take on the future of streaming music and artist compensation? Voice your opinions in the Comments section at the bottom of this post.
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