This is an audio summary of the original book.
Buy now to get key insights from Donald S. Passman's All You Need to Know About the Music Business.
1) The music business has drastically changed since its conception. Whereas it used to be based primarily on sales, the advent of streaming services like Spotify, Apple Music, and YouTube has revolutionized how people consume music so that streaming is now the dominant revenue source for recorded music.
2) Back in the day, artists received money for their music when their record was sold, a one-time fee. Today, a song can make money each and every time it is streamed.