There’s no marketing tool more powerful than a loyal fanbase. As I outlined in my previous article about the new Attention Economy, a strong brand can cut through the digital noise because fans seek out that brand’s content. But as the entertainment industry shifts more and more to digital channels, there are elements of building a culture that happen through experiential marketing that are broken online. This presents a huge opportunity for a platform that can help creators and brands bridge this gap of the emotional and experiential connections between fans and creators.
What is the value of a song?
For many pop artists, it seems the answer is “a lot.” News broke last week that Justin Bieber is hoping to own the master recordings of any future music he creates. Meanwhile, Taylor Swift after struggling to buy the rights to her original work decided to re-record those hits so she could own the newer masters. In parallel, savvy businessmen like Merck Mercuriadis, and his company Hipgnosis, are literally buying up huge catalogs of music. Why? Because they all believe that a song’s value is forever. But, is a song’s value really forever…
We should raise a toast to Olivia Rodrigo. The eighteen-year-old singer-songwriter’s single “Drivers License” recently achieved the most Spotify streams in a single day for a non-holiday song, most streams in a single week with 65 million, and fastest to 100 million streams in just eight days. These are all major accomplishments, but it’s the future ahead of her, for other artists, that excites me. Rodrigo’s success spotlights a new paradigm for creators alike that is already reshaping the entertainment industry.
Music and Tech Executive/Investor. Ex Global Head of Music and Senior Advisor at Spotify and Founder and CEO of Tunigo