7 Things You Should Know About The Music Industry Today

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7 Things you should know about the music industry today.

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Beep, beep, beep… waking up, starting up my laptop, sipping strong Dutch coffee and playing some amazing Tribe music hand-selected by Marko Roca.

Best wishes to you and your loved ones! It’s time for me and the Tribe team to kick off the new year with: 7 things you should know about the music industry today.

Keep reading and remember: you are not alone, your extended Tribe family is here to help you.

Warm regards,
Hessel van Oorschot
Chief of Noise

7 Things you should know about the music industry today.

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YOUTUBE IS – BY FAR – THE LARGEST ON-DEMAND MUSIC STREAMING SERVICE. SO, HOW TO BENEFIT?
YouTube is accountable for over 80% of the digital consumption of music globally. So our best advice: surround yourself with creative media makers and work on appealing music videos.
This doesn’t mean you have to give away everything for free. YouTube can be used to grow an audience. But – if successful – you can redirect your audience to online environments where your super fans are willing to pay for access to premium and/or live music content. If you are interested: our partner New Media Squad can help you to figure out the best strategy to launch and grow paid, on-demand, music video services.
DIGITAL DISTRIBUTION OF YOUR MUSIC TO SPOTIFY & APPLE MUSIC IS WORTHLESS, UNLESS…
Most musicians we talk to are still under the impression that by singing up with digital distribution services (getting their music up and running on Spotify, Beatport, Apple Music, Deezer, Amazon Prime) their career will instantly succeed. One or two years down the line they are disappointed. Their music is available on all major digital music services but the number of plays (and related royalty payments) is low or even zero. Our advice: Take your time and ask the digital distribution partners how they are going to make sure your music ends up in the top earning playlists. Also check bullet #5.
GLOBAL MEDIA MAKERS NEED HASSLE FREE MUSIC (LICENSES). BE FLEXIBLE.
You are still dreaming about that one phone call that changes your life and career for good, right? Quentin Tarantino or Steven Spielberg asking if he can use your song in his new blockbuster. That would be awesome. But in real life only very few people will receive those calls. The good news. What we are noticing on Tribe of Noise PRO and via our business partners like Getty Images and Pond5 is the increase of music licensing opportunities. An increase of opportunities but with changing characteristics: lower budget per project, shorter lead times, more flexibility to use / edit / share. Our advice: Start organizing your catalog asap. Check which songs can be (legally sound) used globally for direct licensing opportunities, search and find the master recordings in digital formats, collect and sort all relevant information about the songs (genre, style, energy, mood, etc) and contact us to discuss the next steps forward.
UNSEXY, BORING, YET HIGHLY EFFECTIVE BUSINESS MODELS ARE WORTH YOUR ATTENTION. READ THIS.
Recently I drew and posted this simplistic image of the money flow in the music industry. First feedback: many musicians don’t look beyond the obvious business models of the recorded and live music industry. Second observation: some of the real money making business models for musicians are unsexy, boring. Well, why choose? You can have both. Our advice: Test drive all the models you can get your hands on like Tribe’s in-store music services even if you think they are not “sexy” enough. Money made with unsexy things can be spend on your life and passion: make and share more beautiful music. To our defense, we think it’s pretty cool to broadcast your music to millions of consumers in Europe.
READING THE SMALL PRINT (ONLINE) WILL IMPACT YOUR CAREER FOR THE BETTER.
Ok, ok, wait! I know it’s not your favorite thing to thoroughly read contracts, terms of use and other legal docs. But unfortunately the music industry still has a name to exploit artists, so keep paying attention to what you sign. And it’s not because every music industry executive is a crook. It’s a mixture of creative minds who are not interested in the business side of things, lack of legal knowledge with the rights holders, the complexity of the traditional system, still many transparency issues and sure… there are some really clever people in the industry taking advantage of the situation. Our advice: before you sign a digital distribution agreement, label deal or hand over your repertoire to a publisher call a friend with enough legal knowledge to help you make the right decision. If you don’t know who to call, contact us so we can sort you out.
METADATA WILL MAKE YOU STAND OUT FROM THE CROWD.
Before you start printing T-shirts with “My Metadata Rocks!” we want to emphasize the importance of this. Your music is distributed digitally, your music cannot be found without correct metadata. There are billions of playlists, gazillions of entertaining videos found and shared online. How does your music stand out from the crowd. Well, one of the big 2017 and beyond trends are “big data” and “voice search”. Huh? You must have seen the first signs: Amazon’s Echo (“Alexa, please play my favorite rock music”), Google’s Home, Apple’s Home. Without explaining the technology in detail it means that our future of music search is heavily depending on huge, smart databases with all the relevant information we can get our hands on. Our advice: the smarter you get in tagging your music, the easier it will be to include your music and metadata in future online search engines & databases. Go beyond the title of your song, your artist name and the year of release. We want to know what coffee you were drinking when writing the lyrics, which software and microphone brand you were using to record the song. Save every detail that’s related to your music. It will help a licensing professional, super fan or even an algorithm to find and present your music to the world.
EXPERIMENT WITH 3D / BINAURAL MUSIC RECORDINGS
Yikes! Binaural what? LOL. One of the trends this year will be the growing demand for music in virtual reality (VR) video and game productions. You might have played with Google Cardboard or Samsung Gear VR. Interesting experience, right? Good quality VR and 360 degree content is still scarce but this year we will see an exponential increase. One of the things that will help to boost the experience is adding 3D stereo sound. Proof? Ok, put on your headphones and watch this video. Our advice: Don’t wait too long but learn to ride the waves. Browse the internet for more 3D music examples and if you get enthusiastic about producing 3D / Binaural music please contact us. We have access to some of the world’s leading VR companies and experts.