This morning I came across this great infographic talking about how audio in is the next big thing in Digital Marketing and I think it means big things when it comes to making money with music.
It seems to mirror what I am seeing both in my world and in my CDBaby account (streaming royalties are slowly but surely increasing).
As the smart phones get smarter – and into more hands – average people are more easily discovering and using services like Spotify, Stitcher Pandora, etc to listen to music and talk while driving, doing housework and whatever else.
Some of these services and capabilities have been around for awhile, but until recently it has been a pain in the ass to find and manage content. The general public just isn't hardcore enough (in a nerdy kind of way) to be hunting down music and podcasts and then jumping through all the hoops to download them and then upload them to an iPod or some other device.
Now it is on a device that is by your side constantly. Less friction = more consumption.
I had an old friend mention me on Facebook a few weeks ago. He just bought his first smart phone (an iPhone if you're keeping score) and told everyone how cool it was to discover that Corey Koehler was on iTunes and that I must be big time now (pssst… don't tell him how easy it is to get on iTunes).
Also, I was on a retreat with some friends last weekend. It was hard to get anything from my collection played because everyone was lining up to have their stuff piped through the main system via apps iHeartRadio, Spotify and Soundhound.
A year ago, being the somewhat early adopter that I am, I would've been the only one with that capability.
Bottom line, its getting easier for people to consume our music. And I don't know about you but that excites the hell out of me.
Go check it out:
Is Audio the Next Big Thing in Digital Marketing
Hey Corey, you are right on the money with this! I’ve been saying the same thing for years. People complain about streaming services not paying much, but in 2 years time, streaming will be the MAIN way people consume music, now that the use of smartphones is becoming more ubiquitous.
Great little article.
Thank you Jomar!
I think indie musicians have to diversify if they want to really make money online. Streaming services are cool, but it would seem that you really have to have a significant following to earn some decent dough. Things like music licensing, work for hire online gigs, lessons, etc all help to fill in the picture. It’s good to be optimistic though and the infographic does make some good points.
Thanks AG, yep it is only one piece of the puzzle and diversity is key.
… oh and your service looks like a pretty good way for production and session types to earn some money too. Maybe you could do a guest post and tell us all about it. 😉