Have things been tough for your music projects in the last couple of months?
Maybe you haven’t been getting the crowd support expected during tours, or maybe your music has just not been selling as you thought it would. Well, like everyone else, maybe you should put it down to pre-election jitters.
Every time the presidential elections come around, there is always a concern that the flow of money, goods and services will be affected negatively. While it has never really been proven, those concerns are once again alive and well as the November 8 showdown looms between Hillary Clinton and Donald Trump.
For instance, the New York Times recently published an article titled “The Election’s Effect on the Economy? Doughnut Sales Are Probably Safe” in which the CEO of Dunkin Brands, which operates Dunkin Donuts, was quoted as saying the presidential election had an overall dampening effect on quarterly revenues for his company.
Traditionally, that sentiment has been shared among different sectors every time an election draws closer. That includes pharmaceutical companies, automakers, and those in real estate, among many other industries. Book makers, Barnes & Noble are among the latest to blame the ‘Hillary and Donald show,’ citing unprecedented fear among shoppers for low sales in its last quarterly report.
And while music doesn’t seem to have as a direct link to election jitters, save and except for the fact that the music industry is among the top five contributors to the Hillary Clinton campaign, your earnings might still be susceptible.
The main reason for that is, drum roll, the stock market. This was highlighted in an article posted on RT.com where Citi [bank] analysts warned that the outcome of the presidential elections could shock stock markets around the world. Add to that the recent economic indicators suggesting that consumer confidence slipped during the month of October.
If consumer confidence goes down, then there will be uncertainty in the market. Uncertainty in the stock market usually trickles down to everything, from gas prices to the cost of groceries, so imagine how it could be passed down to the cost of entertainment, including your music.
Thankfully, the presidential election is only a few days away and, traditionally, things usually go right back to normal afterwards. Here’s to hoping the trend continues this time around, regardless of who winds up in the White House. Just hang in there and keep on doing what you’re doing.