While streaming has revitalized the music industry in lots of ways, many artists continue to struggle to make ends meet, something which the launch of numerous new analytic and discovery features by streaming services could help to change.
_______________________
Guest post by Patrick McGuire of the TuneCore Blog
[Editors Note: This article was written by Patrick McGuire.]
As music streaming giants like Spotify and Apple Music continue to transform and revitalize the music industry, artists are just beginning to fully comprehend the seemingly limitless potential of new music discovery and promotion technology in 2018’s musical landscape. Songwriters and musicians continue to struggle to financially cope in a world with that’s almost completely shifted to streaming music over owning it seemingly overnight, but a slew of new analytic and discovery features delivered by streaming platforms could be the silver lining artists have been waiting for.
Spotify, who has yet to make a profit as a company, isn’t able to pay compensate an artist much money when one of their songs gets streamed through their platform, but they are able to help in other ways. Through tools like their Discover Weekly playlist, Spotify has made significant investments in helping new music find an audience. A thoughtful mixture of human curation and algorithm genius is helping new and unknown artists connect and resonate with fans in ways that were unimaginable just a few years ago. Will 100,000 plays on a big streaming platform earn a band enough money to pay all of their bills? No, but that sort of exposure might give a new artist enough attention to find opportunities that can.
The music industry’s newfound collective acceptance of music streaming is one of the driving factors behind what many are calling music’s big comeback, but new opportunities for exposure and promotion ushered in by streaming platforms and playlist culture deserves a good amount of the credit.
Last summer, an article published by The Guardian profiled a Venezuelan singer named Danny Ocean, an artist whose career was launched by Spotify. In a matter of months, the Latin star went from being completely unknown to having a smash hit with over 261 million plays through Spotify alone. Spotify’s technology was able to detect interest in Ocean’s single after its release, so it added the song to a few of its popular playlists and the rest is history.
Songwriter Ron Pope has a similar rags to riches story. The Georgia native apparently earned over $250k from streaming alone in 2014 without significant radioplay and help from a label. The incredible breakout success stories of these artists is one that would be simply unthinkable just a decade ago.
With big music streaming players increasingly lending a hand to small artists, the music promotion sector the music industry may need to rethink their strategy.
In addition to helping to launch undiscovered new musical talent in a perpetual quest to satiate the music-addicted masses, streaming platforms are now able to give artists analytic insights and helpful information about their listeners that they used to have to pay good money for. For example, a college or alternative radio campaign usually runs bands anywhere from $1,500 to $10,000. The main purpose of these campaigns is to physically submit an artist’s music for possible airplay, but a huge benefit they deliver are detailed insights into which stations have started playing the music, where they’re located and how often they’re playing it. Streaming platforms are now offering up this and other helpful information to artists for absolutely free.
Radio continues to be a major source for music discovery, but with the trend of many influential stations curating playlists replicating the material they play over the air, the free analytic information artists can get from major streaming platforms can help them gain powerful insights about their unique audiences. With these free resources, artists can track the success of their individual songs, book tours based around countries and cities their music is being played in the most and can even see information as detailed as what gender their listeners are.
Shortly after the birth of social media, platforms like Myspace and then later Facebook were the ones mostly responsible for hosting the party as far as where audiences went to listen to an artist’s music, learn about them from their bio and find out about their shows. But in 2018, the party is swiftly moving over to streaming platforms.
In addition to helping artists connect with and learn about listeners, major streaming platforms now provide customizable profile features like pictures, concert listings and even merchandise store options. Essentially, big streaming companies are now helping artists condense and leverage their virtual presences in ways that non-musical social media platforms have never been able to do. Just a couple of years ago, most people used Facebook pages to learn about and keep up with bands, but now fans can do all that directly from the sources they discover and consume music.
But while some musicians and writers are rejoicing over the new features and benefits streaming platforms are offering artists, others continue to feel the strain of diminishing record sales and fear the possibility that the artform of the album will be replaced by playlists. While no one can predict the future, the music industry’s sweeping irreversible transformation is a certainty, and those who learn to adapt will fare better than those who dig their heels in and wish for a pre-streaming era to return.
Patrick McGuire is a writer, composer, and experienced touring musician based in Philadelphia.