Online services have welcomed a new rate schedule that will cut the cost of music streams in the UK. The PRS yesterday cut the cost of royalties owed for streaming a song from 0.22p to 0.085p. The headline rate rises to from 8 per cent to 10.5 per cent of revenue, supposing the company has any. Steve Purdham, chief executive of …
Ah bless the children
Because presumably someone's five year old explained to them that any revenue is more than none whatsoever.
Fucktards. I hope YT and Pandora tell them to stuff it, albeit unlikely.
Just a quick point - are people reading 0.085p to mean an eleventh(ish) of a penny? I've seen it reported in some (music!) press as 8.5 pence... (I guess stemming from the fact that at school we were told to write 50 pence as either £0.50 or 0.50p, never both).
Bugger! I was hoping it was the smaller of the two, but no one had clarified it.
I was hoping this would be a way to legally download whatever I liked, so long as I streamed it to myself when I wanted to listen. A penny a track would be an amount I could cope with!
'Tis the smaller
The PRS rate really is going from 0.22p (£0.0022) to 0.085p (£0.00058) per stream.
However, that is only part of the cost of streaming, as you have to pay the music label too, and they charge ~£0.007 per stream, hence the 'shave 10 per cent from the cost of delivering music legally' bit of Steve's quote.
so this affects my pirate bay downloads how?
... yep they stay the same price.... free....
Seriously though, the coporations need to wake up and realise that when you compete with free you need to offer a low price with some value... and by value maybe no DRM, complementary additional material (e.g. getting a b-side free) etc etc
There are loads of ways the archaic people in the legal music world could capitalise on this, but they are so greedy they wont give an inch... cutting off their nose to spite their face!
Sadly I've got to agree
The music industry around the world is missing the trick and have been for years. The opportunities to capitalize on all this is there waiting for them. However their greed, fear, and short sighted business model from the 1970's wont let them take advantage of it. The ones I feel sorry for in all this are the artists both in the spotlight and behind the scenes as it's them who really get screwed over. Screwed over the worse by the very people who are supposed to be representing them. However there is light at the end of the tunnel. I know a great many folks who are forgoing traditional channels and simply doing it themselves. No complex licensing schemes none of that other nonsense simply them selling their music at a fair price that covers their costs and allows them some profit. Part of this includes free and low cost downloads, incentives for physical purchase, downloads that are BOTH DRM FREE AND HIGH QUALITY. It is this kind of artist using that kind of distribution mechanism that will further cripple and perhaps bring to it's knees the tradition music industry. As bad as it would be for some, it would be a good thing for that to happen. Since I don't believe they will learn any other way then by having their business totally scrapped so that they have to start over again. Oh and do it right the second time around.
"... write 50 pence as either £0.50 or 0.50p ..."
There's a Verizon joke in there somewhere. Does the UK also get confused distinguishing between 0.02 dollars/pounds and 0.02 cents/pence?
Remember to never underestimate the power of a short 3.5mm cable connected between line-in and line-out, oh how I remember the good ol' days of radio piracy...
- DAYS from end of life as we know it: Boffins tell of solar storm near-miss
- Put down that Oracle database patch: It could cost $23,000 per CPU
- Bose says today IS F*** With Dre Day: Beats sued in patent battle
- The END of the FONDLESLAB KINGS? Apple and Samsung have reason to FEAR
- Review Porsche Panamera S E-Hybrid: The plug-in for plutocrats