Is music going bankrupt? Successful indie artist Cat Power is the latest to go bankrupt..
The warning signs are everywhere, and everyone keeps talking about it – now the examples are starting to come in.
The unsustainable life of the musician in the modern world is starting to cause casualties.
Cat Power has had a top ten album in the USA, and played a series of sold out gigs but has had to cancel her forthcoming European tour because she is now bankrupt.
These are tough times for everyone, but the music scene is getting several extra kicks and the business where people will take music for free off the Internet, complain if bands put their music on ad,s and buy less merchandise than they did a couple of years ago is fast grinding to a halt. When Spotify pay a couple of hundred dollars a year to huge stars and even less to everyone else and most people listen to music on YouTube means a musician is getting squeezed from all angles.
Maybe the Pirate Party could step in to help or just continue to give away people’s work for nothing and still without their permission. No one is stupid enough to enter music and expect to be a millionaire but even a pretty successful artist like Cat Power declaring bankruptcy is a stark warning of the grim battles that are ahead…
Is there an answer to this? Do musicians stand back and accept that no-one values what they do any more? Is there a compromise or is it game over?