Hey, everybody. Jake right here at this time to, as at all times, write manner an excessive amount of concerning the tech aspect of issues. In case you missed it, Ariel introduced in Tuesday’s subject that Scorching Pod Summit is coming again to Brooklyn in February as a part of On Air Fest. That is going to be a enjoyable one; we’re toying with the format to make it extra interactive, which we’ll have extra particulars on quickly. Invitations are going out now — when you didn’t get one and need to attend, you may submit your identify right here.
Will we lastly get Spotify HiFi?
Spotify introduced this morning that it’ll be holding its subsequent “Stream On” occasion on March eighth at 1PM ET / 10AM PT. The corporate plans to share updates on “creator instruments, options, and programming” through the occasion.
That is Spotify’s second Stream On occasion, with the primary being held in February 2021. Spotify used that occasion as an opportunity to put out its enterprise case for music and podcasting and make a bunch of bulletins in each arenas. This was the occasion the place Spotify introduced its collab between President Obama and Bruce Springsteen, introduced on David S. Goyer to speak concerning the improvement of Batman Unburied, and launched the Spotify Viewers Community, which let advertisers goal Spotify originals and exclusives. It additionally introduced that Spotify’s music platform could be increasing to greater than 80 new markets. So some massive, splashy bulletins throughout.
And wasn’t there one different massive factor introduced there? I’d swear there was one thing. Some thrilling new characteristic? Did I think about this?
Oh, proper: Spotify HiFi, which was coming “later this 12 months” again in 2021 and is but to reach and even actually be acknowledged by Spotify since. The service was imagined to ship “CD-quality, lossless” audio — a much-demanded characteristic by audiophiles — which is already obtainable on competing providers like Amazon Music, Tidal, and Apple Music. Apple even gives it at no extra cost above the usual subscription charge. (I’ll admit: I don’t assume lossless audio makes practically as a lot of a distinction as pair of headphones or audio system, however I wouldn’t say no to higher-quality information, both.)
This 12 months, Spotify stresses its focus will probably be on “new potentialities for creators to raised join with and construct a robust international viewers throughout mediums.” That sounds to me like we’re most likely speaking about Anchor, video, and audiobooks — you already know, Spotify’s massive potential progress areas. Clearly, we’ll be tuned in and able to catch y’all up on the information come March.
Talking of video being vital to podcast firms…
Morning Seek the advice of launched the outcomes of a brand new ballot this week reiterating that, yup, contingent of podcast listeners get pleasure from having video, too. The massive takeaway is that “practically a 3rd (32%) of People mentioned they like listening to podcasts with video.” And why do individuals need video? Fifty p.c of individuals mentioned it “helps them to raised deal with the podcast” — which reads to me like listeners are asking for methods to be extra engaged along with your content material.
And add yet another piece of proof to the “YouTube is a podcasting large” pile: the ballot additionally discovered that “1 in 3 podcast listeners mentioned YouTube is their most most well-liked podcast platform,” with Spotify and Apple selecting up the following two spots.
These aren’t significantly new takeaways, but it surely’s one other signal that the podcast–video divide / dispute / dilemma isn’t going away. Principally, although, I learn it as a chance: including video to a podcast is far simpler mentioned than achieved, but it surely’s additionally a solution to attain new audiences and function on new platforms.
I’m sorry to out myself like this, however… I’m very a lot amongst that video-loving group. I’m not a fantastic multitasker, so once I’m tuned into one thing, I need to be tuned in — not cooking dinner or scripting this column on the identical time. And if I can nicely truly everybody for a second: again within the early days of podcasting, video was very a lot a part of the story. I’m considering early Revision3 exhibits, like Diggnation or Completely Rad Present, which had been as a lot low-budget internet TV exhibits as they had been pioneering podcast collection.
Now, I believe there’s an actual query of how scrappy and low-budget you will get away with issues trying in 2023 vs. again in 2005, however primarily based on what I’ve seen on TikTok — tons of viral clips of individuals sitting in chairs, at desks, with microphones in entrance of their faces, principally simply re-reading r/AmItheAsshole entries and gasping each few strains — even fundamental video can go a great distance in hooking viewers and reaching a brand new viewers.
A brand new mannequin for music royalties?
Lucian Grainge, CEO of Common Music Group, wrote a memo to employees on Wednesday criticizing the best way that streaming platforms like Spotify and Apple Music pay out royalties to artists. Within the memo, which was leaked in full by Selection, Grainge writes that the “financial mannequin for streaming must evolve.”
He goes on to explain what reads to me just like the mannequin that SoundCloud has (partially) switched to: the place as a substitute of pooling subscriber cash into one massive pot and paying it out to artists proportional to their listenership on the platform, cash is allotted on a user-by-user foundation. Proper now, when you take heed to quite a lot of Spoon and nothing else… too dangerous, your cash goes to Taylor Swift since far more persons are listening to Midnights. However underneath this altered mannequin, all of your cash would go to Spoon. (Or, no less than, Spoon’s label and a bunch of different events affiliated with the band.)
“Underneath the present mannequin, the essential contributions of too many artists, in addition to the engagement of too many followers, are undervalued,” Grainge writes. He says “we’d like” a brand new mannequin that “helps all artists — DIY, indie and main … that values all subscribers and rewards the music they love.” He vaguely says they’re engaged on it “this 12 months” alongside an entire bunch of different platitudes about how nice artists are, so I’m unsure how significantly to take his timeline.
It does sound to me, although, like UMG is clearly all for shifting the payout mannequin subsequent time it comes up for negotiation throughout platforms. Which will assist to appease artists, who’ve lengthy complained concerning the small checks they get from Spotify, et al. (I’d level out, although: it’s UMG and the like who’re making the offers to set these charges.)
However how will this profit UMG? Grainge has an attention-grabbing tangent in his memo that I believe could shed some gentle on that: he spends some time railing towards, principally, “non-label” music taking on royalties. Right here’s Grainge:
“At the moment, some platforms are including 100,000 tracks per day. And with such an unlimited and unnavigable variety of tracks flooding the platforms, shoppers are more and more being guided by algorithms to lower-quality purposeful content material that in some instances can barely move for ‘music.’”
Spicy! I don’t know that it means Grainge intends to do something to place a cease to this conduct, however absolutely UMG and different labels will probably be maintaining it in thoughts the following time their Spotify / Apple / Amazon / and many others. negotiations come again up. It might imply calls for for higher placement on playlists or to isolate their artists from this sort of materials. Or, it might simply be that Grainge suspects a distinct royal allotment will work out higher for the precise musicians with precise fanbases. It’s not a foul wager.
That’s all for at this time. Ariel will probably be again with you all tomorrow.
