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
Audio self-publishing service SoundCloud is at the centre of a rumour frenzy after reports surfaced that it has been struggling to raise the $100 million it needs to survive.
Investors value the brand in the region of $700 million – a $70 million cash injection from Twitter last year pegs it at the same amount – however the team will apparently listen to offers which exceed the total amount investment raised to date; a mere $250 million.
Although the economics of the business are murky for the moment, the brand does offer potential for organizations which want to play in the content arena. The team state SoundCloud has 175 million monthly unique users, though this number hasn’t been updated since 2014.
Read Article: Telecoms.com
When Apple launched the iTunes Music Store in 2003, it decreed that every song would cost just 99 cents.
That was a striking level of uniformity to apply to an industry that has often offered its product at varying prices based on the star power of an artist, the whims of retailers, and the general willingness of consumers to pay up. The average price of an album (in 2015 dollars) fell from $24.45 in 1974 to $11.97 in 2014, according to an analysis by Pitchfork.The single-track download is dying, but the format replacing it has found its own standardized price: $9.99 per month.
Over the years, music streaming services have settled on a Hamilton per month as the appropriate price for streaming millions of songs on demand and having the ability to listen to them offline.
Read Article: The Ringer
Music and tech fans are making their annual pilgrimage to Austin, Texas, this week for the South By Southwest (SXSW) festival.
What began 30 years ago as a showcase for local musicians has morphed into a must attend event for startup entrepreneurs and musical talent alike.“The way they’ve structured the festival is pretty genius,” Canadian-born entrepreneur and musician Jared Gutstadt told BNN in a phone interview. Gutstadt — president, chief creative officer and co-founder of audio creative agency Jingle Punks — is a long-time SXSW attendee. T
his year, his firm will be marketing its partnership with iHeartRadio to create radio jingles on behalf of brands.
Read Article: BNN
All The Best Music Streaming News
Our daily, hand–curated newsletter keeps you up-to-date on all the latest news and ideas from the global music streaming business.
We cover the technology, platforms, data, deals, rights, people, and innovation in the world of music streaming, and deliver it every day to your inbox.
Oh yeah, and there’s also the folks who actually play the music! We’ll keep an eye on how the artists are dealing with the new world of music streaming.
“Streaming Has Officially Taken Over the Music Business.” That was TIME Magazine’s headline in March ’16. We couldn’t agree more! What better time to dive in to All Things Music Streaming with Platform & Stream.