Business Management In The Music Industry – It’s been one of those weeks, with music business announcements that are impactful and urgent. As is often the case, a series of seemingly unrelated events has a common thread. In this case there are three:
In connection with this report, Audible Magic commissioned MIDiA to produce a white paper on the growing strength of UGC and the untapped opportunity to monetize the growth of UGC consumer behavior and new platforms….
Business Management In The Music Industry
CD Baby: Independent music powerhouse CD Baby recently released a slew of information, including the fact that it increased artist revenue by 26% in 2020 with $125 million in streaming revenue and 111% growth in YouTube revenue – yes, 111%. MIDiA will soon announce its music market figures for 2020 and the exact number of artists is nothing short of mouth-watering. 2020 was the year of the independent artist and producer, and that trend continued into early 2021. Independent artists make more music than traditional artists (releasing 8.5 times more than major labels in 2020) and there are more of them. than ever before, nearly five million by the end of 2020, to a third in 2019.
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· Another big year for UMG: Vivendi’s FY 2020 results revealed that UMG increased its recorded music revenue by 6.9% in current USD currencies. Which means they also visited the entire market. But this time Sony grew faster (again, in today’s USD currency) and more importantly, all levels also grew slower than the direct performers. More about this will follow soon.
· Spotify’s indie growth: The most important statistic in Spotify’s annual report is undoubtedly the share of streams led by elites and Merlin (a representative of the traditional music business). The 2020 figure was 78%, up from 85% in 2018. Small producers and direct artists grew faster than label companies. This changing of the guard has many first- and second-tier effects, but the main dynamic is that the number of small artists and labels is growing faster than streaming revenue. They still take a bigger slice of the pie, but divide it in many ways. For streaming platforms, this means a) more consumption, and b) more distribution from their partners, which improves their bargaining power. For artists, it is amazing that many artists reach large audiences, but take small fractions of the money.
· Soundcloud: In what may be the smartest move the music industry has ever made, Soundcloud has introduced its idea of user-centric licensing: fan-driven payments. I will use this term to refer to UCL from now on. Most importantly, Soundcloud was able to start this with a pool of independent artists, because these artists owning their rights are a direct way to drive faster, which defines the best market trends using many common networks. company.
Who Are The Players In The Music Industry
Spotify: 2020 was the first year since 2017 where premium growth was lower than the previous year (to €1 billion compared to €1.4 billion in 2019). However, subscriber growth increased, further worsening the ARPU, to €4.31 from €4.72 in 2019 and €6.20 in 2016. Meanwhile, the ad-supported ARPU also fell, as well as the ARPU for podcasts. Spotify is getting better at growing audiences, but not doing well at growing revenue.
· Square buys Tidal: Out of left field, Square recently acquired a majority stake in Tidal. This is a very different game than MelodyVR having Napster create a new username, albeit a small one. Instead, Square sees Tidal as a new vertical to drive the growth of the developer’s tools. Until now, the music maker tool space has been dominated by the music maker tool companies. Square’s move demonstrates that the collaborative growth of creative tools, new independent labels and artists is an immediate driver for the music business.
Streaming was the economic shift the music industry needed to usher in the digital age. However, streaming is now experiencing growing pains due to slower growth in mature markets, lower ARPU in emerging markets and more artists and songs sharing in the profits. A UK parliamentary inquiry into the flow economy could provide some form of equal pay, but it could hurt songwriters in the process, showing there are no easy solutions to flow pay.
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A lot of money is flowing into the independent artist and instrumentalist industry as many investors have realized that a similar new music business can be built here. Let’s hope the independent gold rush expert confirms that the producer is always in the middle of the reward and not just the goal of monetization. This is an opportunity to build a new, more balanced environment that can complement the existing one, not just a redesigned version of the old one.
Advertisement Long Read Part 1: Cataloging and Managing Songs You’ll never forget that music books change hands for a lot of money. The race to find songwriters…
MIDiA published its latest forecasting report late last year (consumers can read the full report here). The main topic was the Immersive Web, which we summarize as follows: “The deep web is…
Recorded Music Revenues Hit $23.1 Billion In 2020, With Artists Direct The Winners
As vaccine coverage continues to increase, time is catching up with the strong vaccine shutdowns of the past 12 months. 12% of extra time spent on entertainment is gaining momentum… The Live Music Business: Management and Production of Concerts and Festivals, Third Edition, sheds light on the incredible live music business and offers plenty of insider advice and trade secrets for artists and bands that want to make a living in the industry. Originally published as The Tour Book, this edition has been extensively revised, reorganized and updated to reflect the contemporary music industry.
This practical guide examines the roles of key stakeholders – from booking agents to concert promoters, artist managers to talent buyers – and the agreements, contracts and processes that govern this business of the world. Written by a touring professional with over 25 years of experience, this book explains why live performance is essential to the success of any singer, band or artist, covering topics such as:
Aimed at musicians and music students, The Live Music Business offers proven live music strategies, covering every aspect of creating a music show, from rehearsal and rating pitch to advertising, marketing and contracts. At a time when acting is more important than ever, this is a guide to getting your show going and making a living from music.
What Is An Artist Manager? Understanding What A Musician Manager Does And How To Get One For Your Band
Part One Live Music Management DOI: 10.4324/9781003019503-1 Live music is big business. Any industry analysis usually includes an analysis of the value of that industry or market segment. PricewaterhouseCoopers (PwC), a consulting firm, estimates that live music (ticket sales and related sponsorships) will be worth $30 billion by 2022 — more than $24 billion of which will come from ticket sales.1 Pollstar, an industry publication, reports that ticket sales are huge. out of the top 100 trips of 2019 was $5.5 billion. Regardless of the predicted value of the business, the value to the artist entering the industry should be viewed as having different lines of value – that of the advertising opportunity and the revenue it will bring to the artist. This section introduces you to the key players in the organization and management of the live music business – performers, illustrators, book agents, and talent buyers/concert promoters.3 Figure P1.1 shows the relationship between these keys. all players around the singer. Figure P1.1 Key players in the organization and management of the live music business NOTES PricewaterhouseCoopers, 2019. Global Entertainment & Media Outlook 2019–2023 – Self-discovery: positioning myself in entertainment and media. PwC. URL https://www.pwc.com/gx/en/entertainment-media/outlook-2019/entertainment-and-media-outlook-perspectives-2019-2023.pdf (accessed 11.11.19). https://www.pwc.com/gx/en/industries/tmt/media/outlook.html. Pollstar 2019 year-end special [WWW document], und. URL https://www.pollstar.com/specialedition/pollstar-2019-year-end-special-142982 (accessed 9.29.20). Concert promoter is a commonly used term to describe talent buyers and will be used in this text from now on. Chapter 1 The Artists DOI: 10.4324/9781003019503-2 Chapter Outline Importance of Live Performance as a Marketing Activity Live Performance as an Important Source of Revenue High Revenue When Costs Are Low Importance Live performance based performance helps. fast timeline of success Facts The three parts of the music business (recorded, published and live) revolve around the artist. An artist creates a “product” – songs and performances – that generate income in various business areas. Income in the live music business is generated primarily through the sale of concert tickets for performances at one-off shows, concert tours and festivals. The key players selected in Figure P1.1 will all receive a share of ticket sales, and some of the key players will be able to generate additional income from the artist’s live work. But it’s the artist that drives the business – the artist’s ability to sell concert tickets, which “turns the wheel” of
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