An article in the Wall Street Journal discussed the large amounts that music companies are willing to

Question:

An article in the Wall Street Journal discussed the large amounts that music companies are willing to pay in contracts with some hip hop or rap artists. According to the article, these large contracts are “driven almost entirely by the rise of streaming services” such as Spotify and Apple Music. But the article also notes that “for many acts, it’s still tough to get a record deal.” Why is the financial payoff to streaming concentrated among a relatively few artists? Shouldn’t streaming make it easier for all artists to get recording contracts?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Microeconomics

ISBN: 9780135952955

8th Edition

Authors: Glenn Hubbard, Anthony Patrick O Brien

Question Posted: