Creatives have had 18 years of low payouts from streaming services, and enough is enough. You want to get paid more!
One thing's for sure: streaming 1.0 is done.
Technologists are creating tools for streaming 2.0 now.
Will you be on the upside of this if you understand what’s happening now?
The problem is this revolution will take roughly five years, and though you may feel anxious, the question is what should you be doing now to prepare for this shift towards direct-to-artist revenue in the near future.
Addressing Streaming 1.0
Streaming developed roughly in 1996 but exploded in 2006 with Spotify hitting the market. This caused CD sales to severely decline into nothingness, and artists, producers, and songwriters who did music for the sake of doing music collapsed. Customers were tired of getting low-quality music due to the oversaturation of music in the marketplace and low amounts of talent. With an increase in greed and a drop in quality control, it's no wonder why the public voted for streaming to be the winner.
Investors' Speculation Pt. 1
We’re at a point where music streaming 1.0 is perfected. What does 2.0 look like? "If music streaming 1.0 was about solving the problem of ‘make all the music play,’ I think music streaming 2.0 is going to be allowing fans a way to ‘play with all of the music.’" - Bob Moczydlowsky
Investors' Speculation Pt. 2
"I believe the power and economics will shift toward the artist/creator, and this empowerment will be driven by technology and increasing transparency." - Mike Spetzler
Investors' Speculation Pt. 3
"We’re evolving out of the existing stage of music streaming and into a new era where we all learn and figure out how to make sure the money fans want to spend goes directly to the artist they want to support." - Hazel Savage (VP of Music Intelligence, SoundCloud)
Investors' Speculation Pt. 4
"Platforms and distribution will evolve to connect artists directly to fans and unlock opportunities for engagement and monetization beyond streaming. Music discovery and consumption will continue to integrate more deeply into other forms of entertainment, particularly in gaming. Music rights management will continue to get more complex and, hopefully, more transparent and efficient for rights holders." - Joe Puthenveetil (The Raine Group)
Premium Content Will Be King! Pt. 1
In several past episodes during this year, I mentioned artists selling deluxe digital download packs, exclusive content, building communities and servers, creating digital fan clubs, and more. This will hit the main stage soon, allowing the artist to carve out their future for themselves and reach their goals much easier. Will you join this revolution?
Premium Content Will Be King! Pt. 2
Streaming and social media outlets will jump on this trend to prevent artists from leaving the platforms to create their own communities. If consumers agree with the platforms to stay, artists will have to adapt. However, more money will flow to artists than ever before in the last 18 years. So content will not be king anymore; premium content will be king!
It’s Hard Enough to Be a Recording Artist Now. I Have to Be My Own TV Network!?
This is the age we live in, and the new requirements for your team are different from back in the day. However, the upside is huge, and if you can organize the logistics, it won’t be so overwhelming. Recording artists won’t have the upper hand anymore; recording artists who know how to entertain will have the upper hand, whether it be low-energy entertainment or high-energy entertainment. If you learn how to gather attention and move the crowd, you’ll win.
So Should My Focus Be on Content Instead of Music?
Your focus should always be on trying to accomplish both at once. So if you have to slow things down for the sake of time and available labor, slow things down! However, as soon as you can afford more time and labor, ramp things up!
Dude, That’s More Work Than What I Signed Up For?
I keep telling you guys, you must build a business foundation for your music career because that’s how you’re really going to have success. Once you start that process, you begin to see the power that you have, and the task of attacking this mission from both fronts won’t seem so hard.
Check This Out!
If you're a music creative or executive looking to build your label or publishing company in 60 days or less, grab the 60-Day Record Label Course and get it done today! You’ll gain the ability to get real funding, avoid contractual pitfalls, and keep the middleman out of your pockets. Click the link below to get started now! If you’re skeptical, grab the free guide, "10 Ways to Increase Your Record Label Profits," which comes with a free split sheet download.
If You Embrace Change
You’ll stay on the cutting edge of this revolution.
You’ll earn the money you’re seeking from your career in this new age.
And, due to the content, create a massive audience just by staying consistent and constantly refining your process.
If You Bow Out Now
You’ll be grumpy about everyone else making it happen because they put in the work.
You’ll probably be looking for the next best job that can pay what you need to survive.
And you’ll tell everybody that you can’t make money in music. Yes, you’ll become one of those people.
Conclusion
If you’re tired of where things are now:
Become a part of the revolution.
Develop a standard and premium content strategy.
Become the master of your house, which will allow you to become the master of your destiny.
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