We wonder if this is the future of music and artist revenue streams?
While Wheeler was positive about subscription streaming services, he opened both barrels on YouTube. “If YouTube launches a subscription service and it eats Spotify and Rdio, you’ll look back at these times as great days,” he cautioned. “They want to eat all the other music services and our business. That’s their plan.” He said the record industry was “caught out” in the early days of YouTube and didn’t realise the video site would become so big, initially thinking it was just about licensing music for a video of “a cat on a skateboard and then it became the biggest music service in the world”.
Bragg backed him up by saying, “If you want to talk about artists getting angry about the use of their music, YouTube is the place we should be looking at.”
Wheeler concluded, “We got caught out and that needs addressing. Otherwise they will eat our dinner.”
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