A narrative on music business championed by Head of New Media at EIB Network, Kelly Nii Lartey Mensah has been proven accurate by Vasti Jackson, an award-winning guitarist of international repute.
Vasti unbeknownst to what Kelly has been emphasising made an instructive note at a Music Business Master Class that, streaming is not profitable. To him, music streaming has taken away the profitable brand equity associated with records in the days of CD sales. Read narrative here
Vasti Jackson did not mince words with his statement that music streaming doesn’t make money. It shuts the business of music according to the legend.
“You think you are making hits with streaming numbers but you are not making money.” Vasti said on how the streaming platforms and aggregators take the chunk of money and give peanuts to the artistes when it comes to streaming.
It can be deduced that the impression created with news of artistes making strides with streaming numbers doesn’t impress the legendary guitarist.
About The Beyond The Return Conversations
The Business of Music is a masterclass organized by the Ghana Tourism Authority, the Creative Council, Beyond the Return secretariat and The Bridge Zone – all under the auspices of the Ministry of Tourism, Arts & Culture.
The major topic for speakers was, ‘Finding Innovative Ways to Market Ghanaian Music to the Rest of The World’,. Speakers at the forum came from varied fields of the arts including; Malcom Xavier, Coriya Burns, Dontae Winslow, Glyn Aikins and Mark Okraku Mantey.
Vasti Jackson also talked about how streaming has affected music production.
“Streaming has devalued music,” he advised.
“Spend time to develop your craft than something you don’t develop,” he stated.
Vasti Jackson is guitarist, singer, songwriter and record producer. His album, ‘The Soul of Jimmie Rodgers’ won the Best Traditional Blues Album category at the 59th Grammys.