In 2008, music piracy was rampant, CD sales had collapsed, and the industry was in freefall. Then streaming arrived and — depending on who you ask — either saved music or fundamentally broke it.

The Good

Access to virtually all recorded music for less than £10 a month is, objectively, extraordinary. Discovery has never been easier. Global artists from Nigeria, Colombia, and South Korea can find Western audiences without a major label deal.

The Bad

The per-stream royalty rate — approximately £0.003 on Spotify — means most artists earn almost nothing unless they have millions of plays. For emerging artists, building a sustainable career through streaming alone is nearly impossible.

The Algorithmic Problem

Spotify’s algorithm rewards consistency and quantity over quality. Artists are incentivised to release singles constantly rather than invest two years in a great album. Some argue this has made music more disposable.

The Counter-Argument

Artists like Taylor Swift have demonstrated that withholding music from streaming — or using it strategically — can still generate enormous demand. The format is not destiny. But for most artists, the economics remain deeply challenging.