In the current scenario, the relationship between youtube and the music industry is that of cat and a rat, wherein youtube is the rat being constantly chased by several cats (musicians). As we all know, that youtube is the single most platform where all the musicians gather to display their music to a global audience.
YouTube shares the profit earned through the music by sharing the royalties with the respective artist. Now, there are two sides to this magnificent story. If you are a really popular musician wherein your youtube music video is viewed by more than a population of several countries combined, you are lucky with the whole youtube business. It is all right that your CDs or DVDS are not selling because they are old fashioned because you are capable of making money through youtube, concerts, and other streaming platforms.
On the contrary, if you are a niche artist making some sort of experimental music that appeals to an only certain selection of people, then the trend of digitalization isn’t good enough for you to survive as a musician. In earlier times, even small musicians could survive because even the limited number of sales of cassettes and CDs ensured some sort of a profit. However, the minuscule royalty given by youtube to independent artists isn’t good enough at all.
Alongside, youtube also faces the problem of copyright infringement because several other youtube users upload copyrighted music of the artists without understanding the consequences of doing so, thereby resulting in a huge loss to the original artists and musicians. In a nutshell, youtube is turning out to be in favor of affluent musicians and the struggles of the indecent artist seems to as big as of a mountain.
On the positive side, though, through youtube, it’s also possible for independent artists to rise to an immense amount of fame if their music clicks with the right people