It’s the classic hip-hop success story: Up-from-the-streets rapper proves
himself through hard-fought struggle for recognition, gets his big break,
becomes wildly famous, struggles with addiction, gets clean, then has his back
catalog of music become part of an IPO. The American dream!
The truth is that digital music streaming, as beloved as it is amongst
listeners for its accessibility and cheapness, just doesn’t make all that much
money for artists. But there is good news yet. Streaming is so popular these
days that it’s actually growing the once-dying music business—giving the
industry a lift for the first time in decades, and offering a glimmer of hope to
the producers and musicians who had been watching profits crash down year after
year.
And although fans and potential investors shouldn’t expect their favorite
hip-hop artist to be sitting at shareholders meetings next to them (“Eminem is
not involved in any deals for the sale of recording royalties and has no
connection to this company,” his rep says), it’s nonetheless an unusual and
possibly appealing situation. After all, “Royalty Flow (feat. the Bass
Brothers)” has a nice ring to it.