Artists direct Focus on passion, not professionalism
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20,000 foot view: All eyes of the music business are on artists direct, the fastest-growing segment of the industry. But the million artists in this segment are far from a unified group, and have varied aspirations, challenges, and needs. MIDiA’s 2023 creator survey reflects that the two largest sub-segments of artists direct are those who seek full-time music careers; and those who are passionate about music, but not seeking a full-time career. Counterintuitively, the latter may provide nearly just as large a revenue opportunity for the artist services sector than the former.
Key insights
- Music is full-time career for just of artists direct sector, or million of artists direct are “career seekers” aspiring for a full-time music career, and are “passionate enthusiasts” who do not aspire to go full-time. These are the two largest sub-segments of artists direct
- Passionate enthusiasts often just as committed and as career seekers, but simply not plan to earn a from their music
- On average, seekers earn more income annually music than passionate enthusiasts, and more diversified music income sources
- Despite lower earnings, passionate enthusiasts spend more music-making tools compared to career (an average of per year, to
- Passionate enthusiasts’ challenge is not having enough to create and use project tools
- Oversaturation and of financial resources tie at the top two challenges for seekers, with the latter hindering ability to overcome the former
- To assess artists direct opportunity, MIDiA built addressable revenue model based on sub-segment allocating a portion of revenues to growth tools
- Because they both willingness and ability to on growth tools, passionate enthusiasts an million addressable revenue opportunity an artist services market based streaming revenue profit-share
- Career seekers willingness, but less of an to spend on growth tools. they have more streaming revenue allocate so end up with higher addressable opportunity of million
Companies and brands mentioned in this report: AWAL, BandLab, Believe, Discover Mode, Gamma, Human Re Sources, Laylo, Repost Network, Reverbnation, Sony Music, SoundCloud, SoundOn, Spotify, Stem, TikTok, TuneCore, UnitedMasters