Let’s start by hoping everyone is doing okay and everything falling into place for remote work during this confinement period. Just as a reminder, you can find our tools for remote teamwork and an overview of helps you can get for your business depending on your localization.
For this week, again, a few initiatives to make the best of live streaming shows and wonderings about new business models. Our business is full of creative people, let’s see what we came up this week.
#1. Bandsintown ads alerts for online concerts on Twitch
The music website Bandsintown is moving up to Twitch! To keep track of concerts and live shows and keep their updates to fans, the platform just launched their own channel on Twitch. You can now get notifications of live sessions online.
All proceeds will be given to COVID-19 Relief Fund, initiated by MusiCares to help music industry workers facing the cancellations and confinement. The first artist live on the channel was Black Coffee, at the end of last week. Follow Bandsintown on Twitch!
#2. Is streaming enough for musicians?
Since live events have been cancelled or postponed until the end of summer, this kind of strategy have been generalized to almost every artists. If Bandsintown is turning to Twitch, there’s no secret: this is where live can still happen.
However, this alternative can’t compensate live, which is the main source of revenue for artists. Problem: now more than ever, we need to find alternatives to the live music industry. So what can be the strategy? Asking for money today is tricky; everyone is this sector is struggling.
A few testimonies for Vice give us a superficial overview of the situation: if live stream can’t replace live, it can help artists, labels, publishers etc. to build their brand and spread their sources of revenue. Now is the time to be pragmatic!
#3. Soundcloud partners with Twitch to help artists
Soundcloud is partnering with Twitch to help creators get revenue from their live streaming shows on the platform. In addition to decreasing the price for their Pro subscription, they encourage and give more access to uploads and streams for creators. To follow, there will be virtual sessions, for creators as well, with professionals giving their advices to better exist online. Soundcloud is looking to stay the best ally to artists, during this confinement time.
#4. Spotify joins relief funds efforts
Spotify joins forces with other organizations putting together all efforts possible to relieve music industry workers (find out our article gathering these initiatives here). Here is Spotify COVID-19 Relief Fund. With this raised money, Spotify intends to hand over a major help to emergency funds for music industry workers and performers already in place.
Along Spotify, several other major actors are joining forces: Amazon, Facebook, Pandora… The big actors involved in music are joining forces to keep the business running. And on its side, TikTok is giving $10 million to the WHO Solidarity Response Fund. These actions push us to keep an eye on efforts put by the main actors of the sector.
#5. Confinement effect on music streaming
MIDiA Research gave their first impressions and numbers on the impact of confinement on music streaming. And the data are mixed. New habits are settling for consumers, who might have suppressed commute time, working habits… Listening to music doesn't happen the same way as usual. Without forgetting public places not broadcasting any music for at least a few weeks. The research center is teasing a full report on the question, and as for us, we might talk about it pretty soon too!
We'll meet again next week, in the meantime, stay home and stay safe!