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Iqbal Ameer
@iqbalaaameer
The more I look into the NSW initiative to bring back live entertainment... the more wary / concerned I am about the government's outlook in comparison to the real issues that are being faced by the industry... Here's another one I found... The strategy boasts about NSW being home to 50% of Australia's record labels. Impressive, right?
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Iqbal Ameer
@iqbalaaameer
But here's the kicker: Major labels account for 65% of the market, leaving indies fighting for scraps. Streaming payouts heavily favor top artists, with the bottom 98% earning just $12 per month on average. NSW-based artists made up only 9.2% of the top 10,000 streamed in Australia just last year. The government talks about "championing NSW music," but where's the plan to address these systemic issues? Their proposed NSW Music Prize ($160k total) sounds nice..but come on. It's a drop in the ocean. For context, the average cost to record and promote an album is around $250,000 (estimate).
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