Drake, Kanye, and the Fine Art Market

medium.com

One topic that has been coming up again and again in conversation is the relationship between music and luxury. In a low-cost subscription streaming era, recorded music is arguably a utility with extremely low margins for rights holders. Meanwhile, fashion luxury houses like LVMH continue to report impressive revenue growth against the harsh waves of digital transformation, in part because physical luxury still benefits from scarcity. Artists are cozying up more with luxury brands in an attempt to restore a sense of scarcity and exclusivity in their own world—but, as Kenzy El-Mohandes writes, the methods are questionable.

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