How should this work? Once somebody is trending on such platforms, labels will come, give them tons of money, a contract and take over. And take them away from these platforms as well.
They'll give them an advance as bait for an exploitative and crappy contract which may well be run in a dishonest way.
Given that most sales are downloads or streams now, the only thing big labels can bring to the table is a nuclear level of publicity. And by definition, that's going to be reserved for a tiny handful of multimillion-selling household names.
Today's smaller bands and artists - which will be the majority - get no particular benefit from signing to a big label.
They may get some smaller benefits from signing to a smaller niche label, but they certainly won't get a big pile of cash from that.
The situation is similar to book publishing, where a tiny handful of massively popular signed authors get most of the publicity and the cash, but there's a solid underclass of midlist writers who do better with self-publishing, because they earn more from direct sales and - ironically - have a more secure career too.
There was a massive opportunity for SoundCloud to become Amazon/Kindle for Musicians.
MySpace had that space for a while but lost it. BandCamp is close, but doesn't quite make it because the default artist pages suck, and it sees itself as a store, not so much as a marketing and PR outlet that also happens to sell downloads and physical media.
SoundCloud could have won that space, but apparently SoundCloud's management never understood that there's more money in hosting associated services - web pages, mailshots, blogs, and so on - than there is in providing hosting for audio files.
In fact YouTube seems to be quietly taking over for basic track hosting, with the added benefit of video. There's no reaction feature on the tracks, but I'm not convinced that was ever an essential USP on SoundCloud.
But I still think someone else with VC backing could win this space and clean up.
Most musicians who can figure out how to record and upload their own music to SoundCloud could just as easily create a generic website with squarespace or something similar to host a blog. The only value in a comprehensive social network for musicians would be the audience it could bring. A large audience is very hard to build.
Yes! This. SoundCloud should have focused on helping musicians promote themselves, connect with fans and monetize their music. And yeah, this space is pretty wide open right now. The ways people create and consume music are changing, and nobody is really taking advantage of it.
Man, now I really want to build what SoundCloud should have been.
Great. They leave, push their listeners over on the younger version of them.
It's like sailing... Every bit of air that hits your sail will end up behind you, dispersed. That doesn't mean your boat will stop. You travel by charting a course where you stay ahead of a pressure differential.
Same in music. You need to find a source of new artists that will continually replenish you as you lose artists to platforms that focus on the stage after you in maturity. The beauty of culture is it always replenishes.
