About a month ago a blog post titled “Why Your Art is Cheaper Than a Latte” appeared on the Digital Music News blog. In it, the post focused on the singer/songwriter Sufjan Stevens, and the reaction he and his label had to the declining price of music (CD or digital). I’ll talk about Mr Stevens’ reaction later on here, but first discus why music has gotten cheaper these days.
Remember that economics 101 class you took back in college and the whole supply and demand graph? I know, it was boring, but it can explain this reality. If you never took economics, I’ll explain what I mean (I used to teach the class). To refresh any memory, I put what the supply and demand graph looks like below.