Music and Planet Money

I like the podcasts from Planet Money on npr - they're an entertaining way to learn about finances here in the US and abroad. I am often pleasantly surprised by how varied their content is.

Recently I listened to a Planet Money podcast about Katy Perry. Well, more appropriately, about recording agencies and the distribution of the ridiculous amount of wealth that can be accumulated with a hit song, or five (even with the rampant piracy that certain US legislators seem so worried about).

I heard another podcast about an independent musician, and he netted about the same amount from his music working as a free-agent for his initial work as he did for his second album, when he did a lot more work, partnering with a recording agency.

So, maybe it wouldn't be such a bad time for the recording companies to be put out to pasture.