Right now, nothing is hotter than free ad-supported streaming services. After years of being an afterthought, they are increasingly the primary focus for many companies. Now according to Bloomberg, Netflix is considering launching a free streaming service. Netflix is not alone it has been reported that Warner Bros. Discovery will also be launching a free ad-supported service called WBTV.
Marketplace
Podcast Companies Face Layoffs, Budget Cuts and Scuttled Deals
Although many companies continue to invest in podcasts, and overall downloads continue to rise, interviews with a dozen current and former podcast producers and executives indicated increased reluctance among publishers to fund projects with no obvious path to short-term profitability. Short-run or seasonal narrative podcasts, which have a limited window to build audiences and attract advertisers, are under especially sharp scrutiny.
Source: Podcast companies face layoffs, budget cuts, scuttled deals
TikTok is reportedly working on paywalled videos and a revamped creator fund
TikTok is working on several new features to boost usage and expand its older audiences in the US, according to a new report by The Information. Among the features in the works is a paywall, allowing creators to set a price on their content. Viewers would pay $1 — or some other fee chosen by the creator — to watch videos, according to the report. TikTok is also testing a revamped creator fund that’s already underway in France and Brazil and could begin to roll out in the US next month.
Source: TikTok is reportedly working on paywalled videos and a revamped creator fund
Everyone hurts – the problem with ‘fixing’ streaming
With global streaming revenues slowing, there is growing pressure on music rightsholders to identify new growth drivers. This is especially the case for major labels, who have new institutional investors who have become acclimatised to rapid growth. All of which leads to streaming royalties taking centre stage. But the problem is that everyone in the streaming ecosystem has problems with the model. So, can any fix make everyone happy? [TL;DR, no]
Source: Everyone hurts – the problem with ‘fixing’ streaming
TikTok launches DIY distro service SoundOn in Australia, days after limiting access to major label music there
TikTok has launched its independent distribution platform SoundOn in Australia, just days after news arrived that the platform has been limiting access to major label music in the market as part of a test with a subset of users. The platform lets artists upload their music directly to TikTok and RESSO and can also distribute artists’ music to platforms like Spotify, Apple Music and Instagram.
Credit cards can bridge Web2 to Web3, says music industry exec
Revelator, which works in the music industry to provide labels and distributors the infrastructure to run their businesses, recently announced that it integrated Stripe to help fans seamlessly purchase digital collectibles with their credit cards. Guez said that making these new digital tools accessible via Web2 tools users are already familiar with, such as credit cards, creates a bridge between these two versions of the digital reality.
Source: Credit cards can bridge Web2 to Web3, says music industry exec
DIY and non major/Merlin music now accounts for a quarter of Spotify streams
In 2017 the majors and Merlin accounted for 87% of Spotify’s total streams, but that proportion fell to 85% in 2018; 82% in 2019; 78% in 2020; 77% in 2021 and now 75% in 2022. This trend isn’t a surprise: we know that the sector of DIY artists working through distributors has been growing. Last year, Midia Research estimated that self-releasing ‘artists direct’ saw their recorded music revenues grow by 25% to $1.5bn in 2021.
Source: DIY and non major/Merlin music now accounts for a quarter of Spotify streams – Music Ally
Latest BFI Stats Suggest Britain’s Age Of Peak TV May Be Over
Britain’s age of peak TV may be over, or at the very least plateauing, today’s BFI stats suggest. Following a year in which many major productions including Bridgerton, Lord of the Rings and Apple TV+’s Slow Horses rolled the cameras, spend on high-end TV nonetheless fell by 4% on last year’s record figure to £4.3B ($5.3B). Both inward investment – shows commissioned by non-UK players – and domestic UK spend fell by a similar amount, with the former accounting for 84% of the total figure.
Source: Latest BFI Stats Suggest Britain’s Age Of Peak TV May Be Over
Vinyl Growth Slows — But Is That Bad?
In 2020, after years of steady growth, the vinyl market exploded. Sales climbed over 46% in the United States, according to Luminate. Then, remarkably, they jumped another 51% in 2021. But in 2022, that growth plummeted to a rate that was far more pedestrian: Luminate reported that sales were up a little more than 4%. Year-over-year growth also fell in the United Kingdom from 23.2% to 2.9%, according to the British Phonographic Industry.
SoundWare Partners with Soundtrack Loops to Create a Royalty-Free Sample Marketplace
SoundWare is a top provider of VST (Virtual Studio Technology) Plugins for music producers. Together with Soundtrack Loops, a leading creator of royalty-free music loops and samples, the companies will provide creators with a marketplace full of high-quality music and sound effects. The comprehensive library will contain a wide range of genres, styles, and moods, updated regularly with new content tailored to the needs of producers, filmmakers, and advertisers.
Source: SoundWare Partners with Soundtrack Loops to Create a Royalty-Free Sample Marketplace