So after the IPO then everything returns to normal and we’ll all be fine right? :-)
Why would the labels trade an industry with $15–20B in annual revenue for a portion of a business which will be worth at most $15B (current valuation is $8B) in a one-time liquidity event if everything goes right, and which could also easily go wrong and be worth far less than that if they get their clocks cleaned by Apple who the labels don’t have any significant amount of equity in.
My opinion, FWIW, is that it’s more healthy and constructive to simply treat this as an emerging industry and artists need to do that thing where they collectively organize and try to make things better by articulating what they want. Which…. isn’t that what I’m doing here?