The headline out of RIAA’s latest data on the music ecosystem is clear (and to anyone who’s ever had to separate teenagers and their earbuds, no great surprise) — the streaming economy continues to accelerate, strengthen, and mature. Everywhere you look, our industry’s embrace of new technologies approaches, and platforms is paying off for artists, fans, and everyone who loves great music.
Music revenues grew 18%, to $5.4 billion in the first half of 2019. Paid streaming services added more than 1 million new subscriptions a month, taking us past 60 million total paid subscriptions. Thanks to that breakneck growth, plus continued modest drops in digital downloads and new physical sales, streaming now generates 80% of music business revenues and has fundamentally reshaped how fans find, share, and listen to the songs and artists they love.
What would happen if the major music services operated more like Netflix – offering not every artist you can think of, but bidding among themselves for the biggest ones? ByTIM INGHAM
The modern music business is suffering from a crisis of uniformity — and it’s absolutely fine with it. Scan across streaming services like Spotify, Apple Music, Amazon Music Unlimited, Pandora, and YouTube Music, and you’ll find almost exactly the same 50 million songs, presented via similar playlists, similar user interfaces, and similar in-app tool sets. The three major record companies, harborers of colossal market power, like it this way: They are now jointly generating close to $1 million every hour from streaming platforms.
Yet in any industry where innovation is frustrated, resulting in a homogenous product mix, two things are guaranteed: (1) Surviving services will pinch ideas from one another, rendering the leading players ever more indistinguishable; and (2) A low price threshold will eventually become the defining factor in the marketplace.
What the click wheel taught us about listening to music “W ow,” a man said to me recently on the subway, “I haven’t seen one of those things in years.” He gestured toward the scuffed-yet-still-sleek, aluminum-colored rectangle in my hand - a 160GB sixth generation iPod Classic. I blinked for a moment.
Over the last year I have noticed less and less interaction with ads I make in Facebook. I find more interaction with organic reach and make sure we post more content driven information with a link to buy. To the point that many times if I want to turn it into an ad it is too wordy and Facebook rejects it. So I have to build out a different ad post for Facebook to approve. However in doing so I do not see much traffic or clickthroughs. Therefore have been disappointed in Facebook ads.
Now with the latest change from Facebook coming in January many of those posts we have good traffic with will be sent to less people starting next year. And I will be expected to do more ads instead. With my results already lacking with Facebook ads, I do not think it will motivate me to encourage my clients to do more Facebook ads.
Here is more news on that front. I will post more of my strategies for 2015 in the coming weeks!
This a great article about Audio and the Internet. I have pulled some excerpts that points out how we feel about promoting music and what tools we use to create the stir that we long to be viral. Read it all (notice I didn’t say listen!) at Why Audio Never Goes Viral
Cat Video Vs. The Cat’s Meow
Bianca Giaever has always been obsessed with radio. As a child, while she biked her newspaper delivery route, she listened to an iPod loaded exclusively with episodes of WBEZ’s “This American Life.” At Middlebury College, she stalked her classmates, dragging them to her dorm room to record interviews she edited into stories for the college station and smaller audiences online. “I was fully planning on working in radio,” she says. “My whole life.” That is until, the day after graduation, she became a viral video star.
When she painstakingly crafted moving audio narratives, her parents and brother listened. When she added video to her final college project, “The Scared is Scared” — a 6-year-old’s dream movie brought to life — “It just. Blew. Up.”