In previewing a campus discussion event tonight, I took a deeper look at how students on my campus (and presumably the trends carry over) consume music.
A survey conducted by the university and The Future of Music Coalition found Virginia Tech students overwhelmingly prefer free streaming music services such as YouTube and Pandora.
My story took a look at some key results of the survey and what they could mean for both universities and the music industry.
The discussion tonight will examine a very noticeable effect of their shifting consumption habits: Artists’ revenue is in danger. Many students support their favorite artists in other ways, such as attending concerts or promoting the music to friends and family, but the fact is in many cases they are gaining unlimited access to music while the artist receives little or no compensation for their use. The difference between what artists make from an iTunes purchase and what they make when someone listens to their song on Last.fm or Spotify is immense, as the great infographic (linked from the great site, Information Is Beautiful) below shows.