Tag Archives for " Millennials "
Here’s the Music Industry News Roundup for the week of December 16th, 2016. There are a lot of interesting news items again this week (more than usual for so late in the Holiday season), so let’s get right into it.
Global music grew by a billion dollars in 2016. That’s a big deal because it was at $15 bil last year, and this year it’s at around $16 billion – a significant upswing. The big question – how much will actually trickle down to artists and songwriters?
Almost every country except Japan saw some growth. Japan is still tied to physical product by both customs and laws, so it hasn’t really experienced digital music yet. Good news for the rest of the world though.
Pandora is now open to selling to SiriusXM. This might be good for Pandora, but not so much for Sirius. Does Sirius even care? Do you?
Apple should by both Sirius and Pandora. This Barron’s article makes a case for it. I can see the Sirius part, but not Pandora, since Apple Music is doing just fine without it. Subscription required.
The music industry is asking president-elect Trump to get tough with pirates and YouTube. No idea how this will go down, but it’s worth a try.
YouTube is about to pay a lot of back royalties to publishers. Not only that, it provides more protection and opportunities to make more money. Too little too late?
YouTube still has a lot of unclaimed royalties. Although the above deal might take care of most of that. Can some of it be yours?
Elton John is both for and against YouTube. The superstar rails against the platform for inadequate copyright protection, then turns around and signs an exclusive deal with it. Talk about mixed messages.
Fashwave is the new music of the alt-right. Fash stands for “fascism” and the music is Synthwave, mostly out of Sweden. The artist’s music is co-opted and they have nothing to do with the movement, but what’s happened to it is pretty creepy.
This app makes all songs into Christmas songs. Can’t get enough Christmas carols? Then this might be for you.
Radio has forgotten about Millennials. It figured that it lost them to downloads 10 years ago and hasn’t worried about them since. Since like an opportunity lost.
The high-powered Irving Azoff is suing a large radio association. He’s trying to get more money for artists from radio play, but after 2 years there’s been no movement.
That’s the Music News Roundup of what went on in the music industry last week. Let’s see what next week brings.
If your audience is composed of millennials, then it’s time to start using Facebook Live, according to a new report by UBS. The company surveyed 2,000 U.S. consumers aged 13 and up on social media usage as well as video consumption and found that Facebook’s relatively new service is the go-to service for that age group, followed closely by YouTube and Snapchat Live Stories, according to an article in Investors Business Daily.
When it came to social platforms, Facebook, YouTube, Pinterest, Twitter, LinkedIn and Snapchat had the highest monthly average users, which continues to fly in the face of reports that Facebook is no longer popular with millennials. That said, Facebook’s popularity was boosted by its Instagram media-sharing service and WhatsApp messaging service, in addition to a pure Facebook presence.
69% of monthly Facebook users return daily, mostly because the platform is becoming much more than social interaction. Facebook is now a hub for news, events and content with a wide reach that the majority of people use in their daily lives, which differentiates it from all other social platforms.
Although Facebook Live is hugely popular to millennials, the company still is at a loss for how to monetize the content, much to the chagrin of content creators. The company has been testing a “buy button” on its News Feed posts for two years, which lets users purchase items without leaving the platform. “The majority of respondents who are Facebook users have not heard of the buy button (58%), while nearly half of Twitter users (45%) stated the same,” UBS said however. Twitter and Pinterest have also been testing buy buttons.
Once again, when it comes to social media, it’s important to go where your audience is. If its the 13 to 24 age group, then it’s wise to be on Facebook Live. The idea is that, as of now, you’ll be using it as a promotional tool instead of expecting to make money from it.
If you’re an artist or in a band then you’re probably on social media to reach your existing fans and to expand your fanbase. There’s a problem though, in that it’s getting a lot harder to do that, especially with the biggest social platforms available.
This is especially evident with Twitter, which still has 320 million monthly users, but most of those seem to be business, sports and celebrity users or journalists. Gen Z and younger millennials are staying away like the plague.
It seems that, unlike Facebook (which they reluctantly use), younger users really don’t have a good reason to use Twitter when other alternatives like Snapchat, Instagram and Kik fulfill their needs in a better way.
Twitter is hard to define and even harder to describe why you need it, but any social network is in trouble if the user doesn’t have any friends on it, as is currently the case with Twitter and the Gen Z and millennial crowd.
Brands are beginning to recognize this as well and spending less on the platform, understanding that it probably won’t be growing much in the future, and that you’re buying current users, not future ones.
That’s why it’s important that you know exactly where your fans are before you invest your time in a social platform. You only have a limited amount of energy and as a result, can’t be everywhere, so go where you can get the most bang for your buck in terms of time invested. If you know that your fans are on Twitter, spend your social capital there, but if more are on Instagram (for instance), that’s where you have to be.