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Record Companies Demand Streaming ‘Price Increase’ 2023

Upon hearing the news that record labels across the globe are requesting that streaming platforms raise their subscription prices, we were not surprised. Although what is their game plan with this? How can they confidently back this up knowing full well that this is a multi-billion dollar industry where artists are still financially suffering?

The Real Issue

A big reason behind Spotify’s success was because of its user-friendly and consumer-first approach. It was the push the music industry needed because, let’s face it, record companies are not showing signs of creating ‘artist first’ steps anytime soon. Major labels and shareholders have actually been pushing for streaming platforms to increase their pricing approach for many years, and in fact, most have except for Spotify for the reason that they’re aware of how this would affect the creators.

Major Labels Attempt Streaming Services

Back in 2016, Universal Music Group and Sony Music Entertainment introduced their streaming service through a partnership with NOW MUSIC, an app known as NOW Music+. The user paid $6.62 per month, including curated playlists with up-to-date hits.

Of course, since then streaming services have massively grown and become far more complex, so unless this app were to develop and enhance its features, there was still a minimal chance of success. The main problem is that even at the time NOW Music+ was active, it still did not have the key feature - an ‘artist first’ approach. Which essentially, in our eyes, defeats the purpose of what the majors were attempting to achieve.

The service seemed to be an enhancement of profits to the already profitable artists as these playlists were filled with the artists that UMG and SMG owned the masters to. The only real potential winners were back to being the major companies, once again.

The Solution

We’ve mentioned several times the ‘artist first’ approach. From our research, this is overall the main and only solution to a long-term succeeding streaming platform - but this is to be done in a way where the creators are still able to see the funds that are being generated from their music. With licensing and the rights of masters being the most significant barrier, there are still ways to help artists grow their career finances while still being independent artists.

The Hurrian Network approach ensures that creators are in control in all aspects; creatively, financially and through their development.

Hurrian Network | LAUNCH UPDATE

As we begin to close in on the official launch of phase one of the Hurrian Network platform, it is crucial that we wrap up the development with full certainty and confidence. We have decided to extend the launch by a further 2 weeks, confirming our new date as 14th April. Up until then, all details are being fine-tuned, reviewed and tested to our highest standard for the Hurrian brand and our users.

Show your excitement for the #HurrianNetwork launch (April 14th 2023) by sharing this update on your socials, tagging @hurriannetwork #MLD

Stay up to date with all news and platform updates through our community chat on Telegram

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