I was chatting with a friend who runs a small label out of her apartment last week. She told me she lost about $400 last month to a single leak of one of her artists' EPs. $400 might not sound like much to a corporation, but for her, that's a week of groceries. You say streaming flattened the terrain, and sure, for the casual listener it did. But here's the thing: piracy hasn't disappeared, it just moved underground. Torrent sites are still alive, and more importantly, stream-ripping is exploding. People are grabbing songs off YouTube and converting them into MP3s for free. That doesn't show up in the piracy statistics you're citing, but it's still lost revenue. And the bedroom producer I mentioned in round one? That stream-ripped track might be their only source of income. Convenience wins for most people, yeah. But for the ones who can't afford even a $10 subscription, piracy is still the default. And that's a serious problem for the little guys.
11:34 AM