START OF A SYMPHONY: CLASSICAL MUSICIANS’ FINANCIAL OPPORTUNITIES WITHIN THE CONTEXT OF A GROWING DIGITAL MUSIC ECONOMY

Abstract

Classical Music, defined as “music written in a Western musical tradition, usually using an established form (for example a symphony),” is a genre of music that doubles as a profession within the music industry for many, and is one that still financially relies heavily on physical sources of revenue, such as in-person concerts, lessons, and symphonic or other salary. However, the music industry of today has been becoming increasingly digital, especially in the last decade. The proportion of the music industry’s revenue that is made up of digital and streaming revenues has continued to increase for the last ten years, at the expense of other sources such as physical sales and opportunities. There exist genres, such as more popular genres of music (Pop, Rock, Hip Hop), which clearly benefit from the rapid growth of streaming platforms and revenues. Classical musicians on the other hand seem to be struggling with adapting to, or at least taking advantage of, this change in landscape. This paper aims to shed light on the discrepancy between the growth of classical musicians’ opportunities for income and the explosive growth of the streaming industry, through statistical comparisons of the trends of symphonic consumption and streaming revenue in the last two decades, among other factors. This paper concludes with the hope to provide research that can serve as a starting ground for further study and consistent data collection regarding classical musicians’ financial well-being and labor participation within the continuously evolving music industry.