The net worth of the music industry has become an attractive topic in the modern times. From the onset, it is clear that the music industry is perhaps one of the most innovative business ventures in the society. Artists express themselves in various ways according to their preferred genre. In the current music scene, there are countless genres ranging from hip hop, reggae, and raga to dancehall, classics, and rhythm and blues. The traditional music genres such as reggae and raga are getting phased out by more energetic beats from hip-hop and rhythm and blues. Musicians earn their incomes from the sale of music albums or through royalties awarded from the regulatory agency. In a properly regulated system, the returns accruing to players build them.
The net worth of the music industry impacts the lifestyles and welfare of the artists. If the artists are performing poorly, then the music industry is deemed to be dwindling. The worth of the music business can also be determined from the recorded and projected returns of the artists. However, traditional music sales are no longer the defining feature of the industry, especially in the wake of the internet and streaming capabilities. It is becoming increasingly difficult to accurately ascertain the value of music, both in substance and in monetary denominations. The music industry has built the careers and lifestyles of many artists, but it is no longer tenable to rely on the volume of sales or the popularity of a given song to determine the value of an artist involved in the music industry.