Metallica guitarist Kirk Hammett says he believes the band warned people that streaming services “wouldn’t work” as a new form of business.
“We warned everyone that this would happen,” Hammett said classic rock in a new conversation. “We warned everyone that the music industry would lose 80 percent of its wealth, power and influence. When these monumental shifts come, you just rattle the cage and get nothing done, or you move forward.
“There’s certainly a new way of getting music out there, but it’s not as effective as the pre-Napster music industry,” Hammett added. “But we’re stuck with it. There has to be some kind of middle ground where the two come together, or there will be another completely new model.”
Earlier this year, the UK government’s Competition and Markets Authority (CMA) formally launched a new study to examine the music streaming market.
The announcement followed the “Economics Of Music Streaming” report by the Select Committee Digital, Culture, Media and Sport, which came out last summer and led the government to call on the CMA to launch an investigation into the matter.
Spotify has previously come under fire for its low artist pay, with the likes of David Byrne, producer Tony Visconti and David Crosby all recently criticizing the platform.
Visconti described the streaming service as “disgusting” for its low payments to artists. Spotify is disgusting, the money they make [artists],” he said. “If you had 12 million streams, you could barely afford a lunch for two. It’s ridiculous, I don’t know why it’s allowed. Spotify isn’t doing anything to support music culture.”
In 2013, Byrne criticized the “spicy” performers who get paid, while David Crosby recently said, “I don’t like any of the streamers because they don’t pay us well. Their relationship is wrong. They make billions with a ‘b’ and they pay out pennies with a ‘p’.”
In December Kevin Brennan MP’s bill to reform musicians’ fees – dubbed the ‘Brennan Bill’ – failed the House of Commons.