Music Industry's Streaming Model Fails to Monetize Fandom

Sammy Andrews argues that the music industry's streaming model, while growing, fails to capture the full value of fan behavior. The system optimizes for access over ownership, treating passive listeners and superfans as the same customer. Streaming royalties are paid pro-rata, diluting the economic impact of dedicated fans. The industry accepted opaque terms during a crisis and hasn't renegotiated. Platforms monetize discovery through advertising and affiliate fees, while labels pay to reach fans they created. AI-generated tracks further hollow out the royalty pool. Social media bans in Australia, France, and Spain threaten the discovery funnel for young audiences. The industry lacks infrastructure to monetize fandom, unlike gaming. Tencent Music's model of enhanced subscriptions works in China but may not translate. Labels must collaborate with artists and managers to build fan-centric products. Royalty reform, data access, and transparency are needed.