Right after I posted this video, the same day,Tidal announced they are implementing a user centric royalty system with a new "hi-fi" tier. What's cool is they are also going to award direct bonus payments to artists who become the most streamed artist of the month for a hi-fi tier user. www.billboard.com/business/business-news/tidal-free-user-centric-update-square-10140143/ I hope this Tidal move will put further pressure on the bigger streaming sites. Tidal is now counted as the 3rd service (that I know of) to take action (SoundCloud and Deezer being the others)
Hey Todd, great video. Is it true that the majors have equity in Spotify? If so, this scheme would be a no brainer for them, but not at all favorable to the artist...What are your thoughts? Thanks again for the value
Hey Alejandro, thanks for the comment. Yes it's true - majors got an equity stake in Spotify. I recall Warner (in 2018) sold off their entire shares, but not sure if they have since bought more. But regardless, the royalty model will likely not be a big difference in pay for the majors or Spotify (maybe a few % points + or - ... This is only about making sure the ARTISTS get a fair share. A level playing field for all artists and genres. Also for consumer confidence that they know their money is going more directly to the artists that they listen to.
@@BandBuilderAcademy Hey Todd, thanks for the reply. How do you think crypto and the new technology going forward will affect Spot, Apple, and monetization of music streams in the future? Do you see a new 'Spotify' of sorts popping up, with totally new monetization terms? Back to selling to consumers directly, or selling partial digital rights, like Lil Pump + Soulja Boy NFT deal? Would love your thoughts! have an awesome day!
Hey Alejandro. Yes. It's early days for music nft & crypto, but you bet Spotify is paying attention. And with their resources you would have to speculate that they will either develop something internally, or will acquire one of the early pioneers of crypto/nft services. Audius is already live. I would think other music nft startups like Opulous, Royal, Theta, Loud, would be looking at how to change the distribution and streaming service model. These new startups speed up the discussion about artists rights and direct to consumer monetization when new record deals and publishing deals are signed.
I hope so Arthur. And interestingly, just as I launched this video, I got a notification that Tidal just announced it will be implementing a "user centric" royalty on their new hi-fi tier. Soundcloud has already made a similar move, and Deezer is headed this direction too.
