Hi everyone! I hope you are staying safe during this slow waving of lockdown throughout Europe and staying inside for the ones still in confinement. This week, we took a look at music streaming market numbers and how consumer behavior could turn out after the current sanitary crisis.
Rethinking models of music streaming and livestream to help artists make a living out of their activities is not a brand new problem. This time, a lot of discussions are happening (we’ll tell you a bit about the UK) and main music (and gaming) industry actors are initiating new ways to pay artists online. Let’s take a look for this end of the week!
#1. Spotify for Artists opens up for labels
Labels, get ready to make the switch from Spotify Analytics to Spotify for Artists! Within the next few months, Spotify will open Spotify for Artists to labels and manager, to ease up the collaboration between teams. Manage data, profile and teams online: get all the informations you need in the official communications.
#2. Rethinking music streaming services
Big discussions happened last Friday on MusicAlly Weekly Shows. The matter at hand: music streaming revenues for artists and the role of redistribution between digital actors, labels, publishers and artists. All of this in the occasion of the initiative #BrokenRecord started in the UK by Tom Gray. An old question brought back in the spotlight during quarantine.
All started with an article we told you about last week, by Stuart Dredge on streaming model in the music industry. All in all, everything will come down to the ability of the industry to find common ground to get a headstart on recurrent problems linked to streaming. Catch up on what has been said on the replay or get the highlights gathered by MusicAlly!
#3. Streaming management of revenues
Following up on these discussions, a few advances were noted on remunerations. Especially on livestream. Since the beginning of lockdown, online events have been happening every day. While one of the most used platforms, Twitch, sees tipping options online as a good way to rethink the live and streaming economy, it can’t be enough.
In France, the Society of Authors, Composers and Publishers of Music (SACEM) will pay artists for their livestreams. Simply put for a livestream of 4-5 minutes, artists will get 10€, 20 minutes they’ll get 46,35€ and over 20 minutes, they’ll get 76€. For all details you might need, here are all the informations on how to get a hold on this payment (in French). A step in the right direction to pay for performances online, in parallel with the tipping options already set up online, to create a real revenue for artists. We can only hope to see other initiatives like this one come up!
#4. What will be the long-term impact on the music industry?
Difficult to miss, this week Goldman Sachs predicted a 25% revenue drop for the music industry. But on the long term, the market should continue to grow almost as planned. Find out the highlights of the study you need to go over here.
All in all, digital transition could be fastened, a rebound post-crisis could help the most impacted sectors such as Live to regain some strength. Here are some elements of analysis to go a bit further.
#5. Streaming data: what to expect post-Covid19?
Finally, a few data were released by Nielsen on entertainment consumption at the beginning of lockdown and today, as it is slowly waved in Europe. If audio streaming went down during the first weeks, paid subscriptions went up. The question now is whether or not these memberships will be going on after users will have to go back to their routine. Find out more about the optimistic side of things here.