In case you missed all the great music streaming news we featured this week, here’s our Platform & Stream Week In Review.
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Daniel Ek’s Brilliant Minds conference will return to Sweden on June 8—9 as part of Symposium Stockholm.
The event claims to gather the world’s “edgiest creators and purposeful leaders”. It was launched in 2015 by Ek and Ash Pournouri, then-manager of Avicii and CEO and founder of At Night Management (pictured).
Although select individuals ‘who are leaders in their fields’ received an invitation that year, those with less ‘brilliant minds’ could buy a ticket to the inaugural event for $2,900.
Read Article: Music Business Worldwide
It’s no surprise the music industry hasn’t provided a successful or revolutionary solution to the dissolving revenue streams and profit margins as consumers change their consumption patterns. Why would they be any different to the media and news companies, telco or transportation services (i.e. Uber) where users continue to go over the top direct to the utility they wish to consume?
Music streaming services today operate in a very noisy market that lacks differentiation. The formula to date has been relatively straight forward: secure licensing for songs, build a platform through which people can access songs, after which they are either served advertising during the content (lite version) or choose to pay a monthly fee (premium) to remove ads and have a clean content consumption experience.
Read Article: AdNews
The world doesn’t need another streaming service. Between Spotify, Apple Music and the more niche Tidal, consumers already have enough options to choose from to listen to and download their music.
Listeners shouldn’t be expected to spread themselves across so many platforms. If the goal for artists is to make streaming services profitable, then the solution isn’t to make your own platform. Instead, it would be to condense into a singular site to have the greatest amount of listeners and therefore the most plays and downloads. Tidal and “Swifties,” as Swift’s site is rumored to be called, will separate a relatively large market. Swift will in turn distance herself from a bigger audience rather than create a larger one.
Consumers want all of their products to be in one place. Kindle enables a singular book library, Netflix holds an incredibly large movie and TV collection and Spotify has a huge music selection. Having multiple niche streaming services is a step backwards for the industry.
Read Article: Daily Free Press