Mark Cuban on Why Music Is “the Worst Industry Ever” (and How Artists Can Still Win) | On The Record

Mark Cuban joined Billboard On The Record for the first-ever live taping of the podcast at SXSW to share his take on the music industry — and why breaking through as an artist has never been harder. Speaking from his perspective as an investor, Cuban explains how the industry has shifted, with music now treated as an asset class and algorithms shaping what becomes a hit. He reflects on why Spotify succeeded, where new music tech could create opportunities and how fans might respond to AI-generated songs. Cuban also emphasizes the importance of artists thinking like entrepreneurs, leveraging the right tools and securing placement in legacy media. In the conversation, he highlights why music is “recession-proof” and what it really takes to succeed in today’s ever-changing music landscape.

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Billboard On The Record is a podcast in partnership with SickBird Productions.

Host:
Kristin Robinson

Executive Producers:
Diona DaCosta
Jade Watson

Produced By:
Kayla Forman
Mateo Vergara

Edited By:
Rachel Derbyshire

0:00 – Intro: Why Mark Cuban calls music “the worst industry ever”
0:44 – Welcome to the first live taping of On The Record at SXSW
1:06 – Why music investing is so brutal for artists
1:53 – Catalog investing: is it really “music investing”?
3:07 – Music as an asset class — and why artists hate that phrase
4:22 – Will AI create the next Spotify-like opportunity?
6:03 – The entire music industry is built on algorithms
7:19 – How record labels used to break songs vs. now
8:49 – Agentic AI is about to change music marketing forever
9:54 – Artists as entrepreneurs: how AI tools can level the playing field
11:53 – Is music recession-proof?
12:44 – Mark Cuban tried AI music tools — his reaction
14:00 – Licensing artist voices: “Could I use Adele’s voice?”
15:12 – Why AI music deals haven’t gotten artists’ attention yet
15:30 – Mark Cuban’s origin story: AudioNet, the first streaming company
17:37 – Is AI a bubble? Comparing it to the dot-com era
19:33 – Why Spotify succeeded where others failed
21:50 – The dead internet theory: AI slop vs. better algorithms
22:02 – Live events are the future — AI can never replace that
22:50 – The Live Nation problem & making concerts affordable
23:32 – Prediction markets are coming to music — here’s how
25:57 – Chappell Roan’s Grammy speech & artist healthcare
25:59 – Cost Plus Drugs: how it helps independent artists
27:37 – “What Would You Queue?” rapid fire game
28:38 – Outro

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About: Billboard is the world’s most influential music media brand, with an unmatched authority among artists, fans and the industry. Billboard powers the ultimate global music destination and magazine, featuring unrivaled reporting on music news, issues and trends, the industry’s definitive charts, encompassing the most complete and well respected database of charts across all music genres, and elite conferences and events which regularly convene the industry and consumers around important conversations.

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Mark Cuban on Why Music Is “the Worst Industry Ever” (and How Artists Can Still Win) | On The Record

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