When it comes to spotting trends
in the blockbuster music business, Warner is worthy of particular attention because, as it boasts in its own SEC filings, the company “adapted to streaming faster than other major music entertainment companies and, in 2016, were the first such company to report that streaming was the largest source of our recorded music revenue.”
Now, as subscription streaming’s growth slows down, Cooper is pointing a big neon finger at the potential of social platforms to take the record industry into its next phase of growth — not just in terms of artist marketing and promotion, but also cold hard cash. “We’re standing on the threshold of a new golden age of music and the opportunities are everywhere,” said Cooper on Warner’s November earnings call. “We see subscription streaming as just the beginning.
. This goes double if it’s true that Western music companies will continue copying from their Chinese counterparts — specifically, chasing Tencent Music Entertainment’s stronghold in a combo of social media, music streaming, and online karaoke. The smart money’s now on online karaoke and music creation becoming big business for the music industry, particularly music publishers, around the globe. The seeds of this behavior are already being sown by the likes of TikTok and Instagram Reels, which encourage audiences to create their own content
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How much did spotify pay your shitty writer for this one?