Music and video Streaming revenue accounted for nearly half of all music industry revenues in 2019 and according to industry association IFPI .if you know almost 80% of global revenue comes from paid subscribers, and only about 20% comes from advertisements and thats from no paying users . While subscribers pay the same amount no matter how much they use. Therefor declining streams will only impact the smaller and volume-dependent, advertising revenue side of the business. People are streaming a ton of music while on lockdown globally .
This is a great time to get your foot in the streaming door or max out what is already working. increase your streaming activity and discoverability on Spotify ,YouTube and ever becoming popular Twitch and mixcloud streaming services with their steady flow of new features this is a fast track way to get your music into the ears of more potential fans on any one or all these streaming services .
We don’t know how long this lockdown will last now It’s time to settle in and figure out your digital strategy and catch your audience attention in time for the lockdown to be lifted . Focus on livestreams and direct communication, show your fans your production process tips and tricks, take them behind the scenes.Focus on volume of releases, get your music on Spotify playlists, create a YouTube channel and upload music you like – even build a playlist with music you like to share with your fans.Take the time to write an engaging artist bio and press release and get someone you trust to take a look at it.If you don’t know where to begin, start by defining your artistic identity, why you make music, what your music means, how you got where you are today. This will help you know what to say through blogs and visual narratives. If you can, consider teaming up with a visual artist to help represent your work through videos, photography, flyers, and merch.
To help develop your artistry, dropping smaller projects compared to full length albums will continue to be the trend for music marketing in 2020.
Your audience will be given a better chance of digesting your project and giving it the attention it deserves because of the smaller track list. There is no music law that states artists have to drop a full length album after their debut EP. Some of the most successful and groundbreaking artists in the industry have created a strategy out of dropping multiple EPs with 5 songs or less. Its all about getting it out there and now is the perfect opportunity .