Next Generation Music Products Monetising Super Fans With Interactive Artist Subscriptions
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There is a growing disconnect between fan engagement and fan monetisation. Facebook and YouTube took artist-fan engagement to the masses, but music spending is still falling. Aficionados, the super fans that drive most revenue, are both being taken for granted and reducing their spend, trading down from multiple albums a month to subscriptions. A new generation of music products are needed, built around interactivity, multimedia and artist subscriptions. Products that will be radically different from their predecessors, and that will, crucially, be artist-specific, not store or service specific. Rights’ owners will have to overcome some major licensing and commercial issues, but the stakes are high enough to warrant the effort. At risk is the entire future of premium music products and of safe guarding the spending of the super fans, without which record music revenues will dwindle into insignificance.
Key Findings- Music Aficionados the besting heart of the industry, accounting for just of but of revenue
- Many of Aficionado super fans are decreasing spend with nearly a fifth stopped buying more than an a month
- There is disconnect between growing fan engagement shrinking spend
- Fans want from their favourite artists: of think music is more than the song, that it is the artist’s story. would pay an interactive artist app with photos and other types of
- A new of products built around artist is needed to harness the demands of Aficionados and must Dynamic, Interactive, Social and Curated
- Subscriptions and funding are the two key tools for music products
- Streaming services key, and artist subscriptions within can both drive Aficionado spend monetise the revenue non-man’s land ad supported and full subscriptions
- Subscribers are Aficionado elite but are under would buy tickets and merchandise artists in streaming services while pledge to get an interactive app ahead of general release
- YouTube is fans for artist subscriptions: of subscribe to artist YouTube channels the top five of those million cumulative subscribers
Companies mentioned in this report: PledgeMusic, Kickstarter, Bandpage, Paetron, Disciple Media, YouTube, Facebook, Instagram, Wikipedia