Jeeni Blog

Helping the next generation of talent to build a global fanbase

4 reasons why the current music-streaming model is not working.

/ By Freya Devlin
4 reasons why the current music-streaming model is not working.

The global pandemic has exposed major problems in streamed music. Musicians couldn't tour or give live performances, so they have become reliant on revenue from their recorded music. Now, a shocking inquiry by the UK Government shows that even successful, critically acclaimed artists cannot live off their streaming revenue. But there is an alternative. Jeeni is a platform that puts control back into the artist's hands. On Jeeni, performers and creatives keep 100% of everything they earn, and thousands of artists are already on board, with an audience outreach that has grown to over two million. In fact Jeeni's growth has been so successful that they have turned to crowdfunding to expand their capacity to meet demand, and raised over £61,000 in a few days.

The Government report reveals 4 reasons why the current music streaming model is not working:

1. Even successful artists get pitiful returns from streaming

Fair reward is a performer's right to share in the recording revenues of a song by law, regardless of their royalty rates and their outstanding debts. However, streaming means that performers are paid according to the terms of their record deal. Depending on when they started out in their careers, their royalties can fall to as low as 2%. At Jeeni the artists get to keep 100% of everything they make, no limits.

2. Pay disparity between song and record rightsholders

The current revenue share from streaming gives the record label the majority of a track's revenue. This comes from a model that applied to physical sales, where labels had overheads such as manufacturing, storing and transporting CDs, cassettes and vinyl. This leaves songwriters and publishers with the smallest share of revenue, even though they are vital to the creative process. Music creators and publishers are furious with this model. It's outdated and unfair because these overheads don't apply to digital music production.

3. Just three major music companies control the majority of the market

Digital piracy and new technologies like streaming have disrupted the traditional music industry, and led to a state of play where three major labels now have a 75% share of the UK recording market. They also dominate music publishing, which is the part of the industry that deals with the rights to the words and music of a track.

Jeeni's CEO & Founding Director Dr Shena Mitchell says, "Although technology has moved on, the approach is still the same as the bad old days, where streaming platforms act more like A&R agents and only select the music they like, dictating what listeners get to hear. At Jeeni we are very proud that our vision is based on democracy, where we give all artists the opportunity to post their videos and showcase their talent, for us to market them to a global audience".

'Safe harbour' lets tech companies that host artist's content get away with being criminally and financially liable for copyright infringement. This allows users to consume music for free, and it creates a so-called 'value gap', because revenues for music from ad-funded services are significantly less than those from paid-for services. Here at Jeeni we refuse to take any advertising unless it's by an artist for their own tracks or services, and we make sure our artists retain all copyright and ownership of their own tracks.

If you like the sound of what we do, then check out Jeeni's campaign HERE and join the list of supporters and celebrities who are flocking to the cause. You can invest from as little as £10 to claim your share, be part of the Jeeni success, and say NO to creative performers getting ripped off. *Capital At Risk

10
Jun

Facing the Broken Music Industry.

By Adam Cowherd @ AmplifyX.com Did you know that artists take home only 12% of the $43 billion spent on music annually, according to Citigroup? [1] The hip-hop artist Russ put it perfectly when he said, “The music business isn’t set up for the artists to get rich. It’s set up for everyone else to get rich off the artists.” [2] If you start looking deeper into the music industry, one of the first things you’ll discover is how broken it is. Artists are the nucleus of the business, but somehow they’re the individuals left with no ownership of their Intellectual Property (IP), inhibited creative freedom, and only a sliver of the earnings. There are so many entities involved in the value chain of music that it has created a convoluted industry structure that lacks equality and transparency. When we break down the mechanics of the music industry, we see just how many hands are in the pot: record labels, managers, producers, booking agents, and streaming platforms. A report by Ernst & Young highlighted the post-tax payouts of streaming revenue and identified that record labels are taking nearly 75% of the payout. [3] Why are artists today signing with record labels? Signed artists have fans. They do not have a majority of royalties, ownership of their masters, or creative freedom. Artists have historically been enticed to join record labels as a way to grow their popularity, because major labels can provide global brand recognition. But the music industry is in the business of making a profit — not in the business of freebies. The artist’s growth may be guaranteed, but not their wealth. Take Thirty Seconds to Mars for instance: after multiple platinum records, they were still millions of dollars in debt to their label. [4] This is a result of the artist being forced to pay the label back for cash advances. Although advances may seem extremely alluring, many don’t realize how hard these loans will be to recoup from their small slice of royalties. Artists thriving off of their album sales are the exception, not the rule. This recognizable gap in income has inspired a large number of artists to start challenging the status quo of record label contracts. Artists today have more tools and resources to build their career — and wealth — independently. Traditional services formerly tied to record labels, like recording, distribution, and promotion, are becoming commodified. Also, modern artists have a wide range of social media platforms to engage listeners on, from Instagram to TikTok to Triller. Artists can grow their fame and find new fans on their own terms—retaining their rights and independence. Evaluating the industry today, music spending is at an all-time high. Goldman Sachs predicts we will have over 1.1 billion people on paid streaming platforms by 2030, generating over $130 billion in music industry revenue. [5] By pursuing alternative ways to release music, artists can take a larger cut of the profits while retaining ownership of their IP and a majority of royalties. The industry is projected to experience massive growth over the next decade. Artists should reap the rewards.

29
Nov

Kissing the Flint – ‘100 Or Less’ Single Review

Australian singer songwriter, Leah Chynoweth-Tidy takes a break from the bohemian, Celtic-inspired tracks with her group’s newest single, ‘100 Or Less’ taking the form of a rebellious alt-rock track with attitude, passion and a clear message. As they put it themselves, “100 Or Less is a music mission to rock the foundations of a bureaucratic lack of support for the undervalued Arts”. The track opens with a fiery guitar performance, reminiscent of the great Neil Young, specifically tracks like ‘Cowgirl in the Sand’ that feature powerful, striking guitar solos with plenty of distortion and fuzz. Add to the mix a rolling bassline and a heavy beat in with Leah’s feisty vocals and you have Kissing the Flint’s lively new single, ‘100 Or Less’.  Kissing the Flint release a pent-up frustration in the prolonged pandemic and various restrictions and choices made by the government. This frustration seems to come as a result of a clear and evident passion for performing the music that they love for the people who love it.   The single ends with an almost hopeless and exasperated “Why won’t you let us play?” which holds an emotional and pained impact for the final moment of the track. Despite such a heart-aching close, electric and powerful tracks like ‘100 Or Less’ certainly helps those that miss the thrill and fun of live music.  Check out ‘100 Or Less’ and the dynamic music video now on Jeeni: https://jeeni.com/100-or-less-kissing-the-flint-official-music-video/  How can Jeeni support artists like Kissing the Flint?   JEENI is a multi-channel platform for original entertainment on demand. We’re a direct service between creatives and the global audience.   • We give creatives, independent artists and performers a showcase for their talent and services. And they keep 100% of everything they make.  • We empower our audience and reward them every step of the way.  • We promise to treat our members ethically, fairly, honestly and with respect.  • Access to artist liaison and a supportive marketing team.  Check out Kissing the Flint’s Jeeni page: https://jeeni.com/?s=kissing+the+flint 

06
Jun

Let the Music Play and Save Our Venues

You may have seen the hashtags going around today #LetTheMusicPlay and #SaveOurVenues. If you were wondering what it's all about, an open letter has been issued. THIS is what is happening ? Some 1,500 acts including Ed Sheeran, Paul McCartney and The Rolling Stones urge the British Government to save the country's live music industry from collapsing because of coronavirus. Coldplay, Eric Clapton, Sam Smith, Rod Stewart, Liam Gallagher, Iron Maiden, Dua Lipa, Skepta and Florence + the Machine were also signatories to an open letter warning that the ongoing shutdown threatens thousands of jobs. They cited new research showing that live music added £4.5 billion ($5.6 billion, 5.0 billion euros) to the British economy and supported 210,000 jobs across the country last year. Live music has been one of the UK's biggest social, cultural, and economic successes of the past decade. But, with no end to social distancing in sight or financial support from government yet agreed, the future for venues, concerts and festivals and the hundreds of thousands of people who work in them looks bleak. Until these businesses can operate again, which is likely to be 2021 at the earliest, government support will be crucial to prevent mass insolvencies and the end of this world-leading industry. On July 2nd 2020, the Concert Promoters Association and a coalition of live music businesses including artists, venues, concerts, festivals, production companies and industry figures launched a campaign to highlight the importance of the sector to the UK’s economy. The campaign asked people to share on social media a film or photo of the last gig they played or saw with the hashtag #LetTheMusicPlay. If you’d like to add your support, you can download shareable graphics and quotes from some of the country’s biggest artists here. Post them on your social media to show how important UK live music is to you, and don’t forget to use the hashtag #LetTheMusicPlay. Read the joint letter Dear Secretary of State, UK live music has been one of the UK’s biggest social, cultural, and economic successes of the past decade. From world-famous festivals to ground-breaking concerts, the live music industry showcases, supports, and develops some of the best talent in the world – on and off-stage. As important as it is, our national and regional contribution isn’t purely cultural. Our economic impact is also significant, with live music adding £4.5bn to the British economy and supporting 210,000 jobs across the country in 2019. Like every part of the entertainment industry, live music has been proud to play our part in the national effort to reduce the spread of Coronavirus and keep people safe. But, with no end to social distancing in sight or financial support from government yet agreed, the future for concerts and festivals and the hundreds of thousands of people who work in them looks bleak. This sector doesn’t want to ask for government help. The promoters, festival organisers, and other employers want to be self-sufficient, as they were before lockdown. But, until these businesses can operate again, which is likely to be 2021 at the earliest, government support will be crucial to prevent mass insolvencies, and the end of this great British industry. Government has addressed two important British pastimes – football and pubs – and it’s now crucial that it focuses on a third, live music. For the good of the economy, the careers of emerging British artists, and the UK’s global music standing, we must ensure that a live music industry remains when the pandemic has finally passed. Yours, Leading UK artists, music professionals & venues (read the full list of signatories here) Click HERE to visit or return to jeeni.com