1. Old songs now represent 70 percent of the U.S. music market. Even worse: The new-music market is actually shrinking.
2. The 200 most popular new tracks now regularly account for less than 5 percent of total streams
3. About 98 percent of people ages 18 to 49 had something better to do than watch the biggest music celebration of the year (Grammy).
4. The leading area of investment in the music business is old songs. Investment firms are getting into bidding wars to buy publishing catalogs from aging rock and pop stars.
5. The leading area of investment in the music business is old songs. Investment firms are getting into bidding wars to buy publishing catalogs from aging rock and pop stars.
6. The song catalogs in most demand are by musicians who are in their 70s or 80s (Bob Dylan, Paul Simon, Bruce Springsteen) or already dead (David Bowie, James Brown).
7. The best-selling physical format in music is the vinyl LP, which is more than 70 years old. I’ve seen no signs that the record labels are investing in a newer, better alternative—because, here too, old is viewed as superior to new.
8. Radio stations are contributing to the stagnation, putting fewer new songs into their rotation, or—judging by the offerings on my satellite-radio lineup—completely ignoring new music in favor of old hits.
9.When a new song overcomes these obstacles and actually becomes a hit, the risk of copyright lawsuits is greater than ever before. The risks have increased enormously since the “Blurred Lines” jury decision of 2015, and the result is that additional cash gets transferred from today’s musicians to old (or deceased) artists.
10.Adding to the nightmare, dead musicians are now coming back to life in virtual form—via holograms and “deepfake” music—making it all the harder for young, living artists to compete in the marketplace.
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