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Why artists don't make money - The Business of Life (Season 1, Episode 3)

Two creative industries are going in seemingly opposite trajectories: the fine art world, where the sky is seemingly the limit for the prices collectors are willing to pay; and the music industry, where the free-fall of record company profits has only...

Two creative industries are going in seemingly opposite trajectories: the fine art world, where the sky is seemingly the limit for the prices collectors are willing to pay; and the music industry, where the free-fall of record company profits has only recently begun to slow. But at the root of each sector’s rising or declining fortunes is the underlying question: How should we compensate artists? And what value do cultural products create in a society?

To get to the bottom of the issue, we’ve tapped the former New Yorker pop critic Sasha Frere-Jones, award-winning artist Ryder Ripps, and Glenn O’Brien, the founder of TV Party, original editor of Interview Magazine, and a former member of Andy Warhol’s Factory.

Welcome to Season 1 of “The Business of Life”: a fresh perspective on the most important issues of our time, as told through the facts, figures, dollars, and cents that shape our world. Hosted by journalist Michael C. Moynihan, each episode brings together an eclectic panel of writers, thinkers, policy experts, and scholars to break down everything you need to make sense of the most complicated topics of our time.