The Economics of Music

The David McWilliams Podcast

David McWilliams

News & Politics

4.6 • 643 Ratings

🗓️ 18 August 2022

⏱️ 40 minutes

🔗️ Recording | iTunes | RSS

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Summary

Today an Irish artist needs to get around 4000 streams an hour or about 300,000 per month to earn the minimum wage which we know is far below what is needed to pay the rent. How can someone survive trying to be a musician? Today we explore the "new" economics of music, what is the financial reality for young and not so young musicians, the history of the music industry and why the economic of our old friend Joseph Schumpeter is behind it all.

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Transcript

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1:17.2	To understand the economy, you have to understand human nature.
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1:26.3	How you doing there?
1:34.4	It is podcast time. It's mid-summer. Ireland is basking in unseasonal.
1:44.6	Almost exactly. He always goes for the second one. The summertime enough will be great, but it's a living easy.
1:45.6	How are you, John?
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