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Music Product Strategy Re-boot Time to Monetise Fandom, Not Access

Report by Mark Mulligan
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The 20,000 Foot View:  As streaming reaches maturity in many of the largest music markets and middle-tier artists struggle to make ends meet with the live music hiatus, the time has come for a music product strategy re-boot – for a bold, new wave of music products that look to build beyond streaming, delivering increased income for both rights holders and creators. In this report, MIDiA presents a new product strategy framework and new formats within it.

Key insights

  • Artist discontent            the streaming slowdown create the            conditions for a rethink of            product strategy that puts artists            fans centre stage. The 2010s            about access, the 2020s will            defined by experience
  • Labels have            an attention dependency, with algorithm-friendly            and playlist hits becoming ‘music           
  • The ‘spikes’            success from playlist adds, TikToks            other attention grabs are decoupled            artists’ long-term success in building            loyal audience and sustainable career,            to the streaming business model
  • Music companies            access, but games companies have            different focus – monetising consumption.            2020, in-game spending represented more            half of all video games            and will reach            by 2027
  • Fandom monetisation            the solution and takes two            forms: monetising micro-communities to improve            remuneration, and premium artist products            super fans
  • MIDiA proposes            artist product concepts to illustrate            opportunity: artist sound pack; artist            pass; fan scrapbook
  • There is            opportunity for labels to function            an agency-like basis, developing premium            and monetising fan communities to            deliver fan dollars to supplement            cents

Companies and brands mentioned in this report: Arcadia, HBO Max, MusicNet, OnlyFans, Peacock, Stadia, Spotify, Tencent Music Entertainment, Twitch, ViacomCBS, Warner Media, Xbox Live

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