INgrooves CEO sounds off on solving digital music’s math problems

Rob McDaniels of INgroovesDebates over the digital music industry have been raging fast and furious of late. Radical.FM’s CEO weighed in on the outlook for terrestrial radio and the business of streaming last week. This week, INgrooves Music Group CEO and Founder Robb McDaniels wrote a guest post for Hypebot with his opinions on the current state of affairs.

He highlighted how much (or how little) artists can monetize on YouTube. “We need to work with YouTube to monetize more effectively, which hopefully will begin in earnest when they finally launch their subscription service,” McDaniels said. He questioned the proliferation of artists on YouTube, where the monetization rate is so uncertain, while many of those same musicians refuse to put their catalog on legally licensed streaming services.

McDaniels also called for more musicians to adopt an open mind about the long-term earning potential of subscription streaming services rather than bemoan the downturn in album sales. By his math, having all listeners sign up for a $10-a-month subscription could yield three times the money for the industry compared with the average $40-$45 per year individuals spend on album purchases per year.

Anna Washenko

Leave a Reply

Your email address will not be published. Required fields are marked *