Spotify Billionaire CEO Daniel Ek is out of touch with reality.

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Spotify Billionaire CEO Daniel Ek is out of touch with reality.

Spotify’s economic model has been widely condemned by musicians and songwriters for years, with critics claiming that the service pays out paltry royalties and gives major-label artists an unfair advantage via playlist placement and other promotional avenues. But according to CEO Daniel Ek, the problem is not Spotify, it’s those lazy musicians!

The response among musicians and performers on social media has been extremely negative with many paying subscribers boycotting Spotify because of how badly it treats musicians. In 2020 more than any other year since Spotify launched, there’s been a surge of musicians talking publicly about their streaming royalties not being enough to live on – including a campaign in the UK (#BrokenRecord) that has trained its sights not just on streaming services, but on labels and the wider industry structures. Tom Gray who started #BrokneRecord campaign states: "This has been problematic for such a long time, and that’s why I call it ‘Broken Record’ because there’s nothing new about this. I’m just saying basically the same things that you’ve heard a million times. But the context has completely changed.”

Many artists and fans believe there are no alternatives or options when it comes to music streaming. Being told by a billionaire to work harder and faster, isn’t likely to be the best artistic motivator, either. According to Ek, musicians need to get with the times and keep up a steady stream of content: “There is a narrative fallacy here, combined with the fact that, obviously, some artists that used to do well in the past may not do well in this future landscape, where you can’t record music once every three to four years and think that’s going to be enough. The artists today that are making it realize that it’s about creating a continuous engagement with their fans. It is about putting the work in, about the storytelling around the album, and about keeping a continuous dialogue with your fans.” He concluded, “I feel, really, that the ones that aren’t doing well in streaming are predominantly people who want to release music the way it used to be released.”

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Or, you can just stick with what you know and keep filling the pockets of billionaires?

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12
Oct

Jeeni Monthy Round-Up, September

Welcome to our new monthly blog update where we will discuss the latest news on topics such as streaming, music, performing, tech and all the other industries Jeeni aims to support. Firstly, seeing as this is the beginning of the monthly round-ups we have broadened our news to cover the last few months. We wanted to begin by highlighting the long-awaited reopening of live music venues and the return of festivals to the UK! A Mast Journal on COVID-19 stated, “the COVID-19 outbreak has been framed primarily as an economic crisis, in which the music-based products and practices through which revenue is derived have been abruptly and, arguably, irreparably disrupted by a global public health emergency.” Many musicians struggled financially during this time, with many pleading to the public to help the industry. Thankfully by June 2021, the venues were able to reopen and festivals such as Reading, TRNSMT and Victorious were able to run once again. Members of Team Jeeni did an amazing job at Victorious, interviewing artists and showing our support to the industry and independent musicians. A BBC article stated “Artists cannot truly operate without their fandoms. Fans can still congregate online while we wait for their return.” While everything was shut down artists had to change the way they communicated with their fans and find ways to gather in virtual spaces. Jeeni believes that even now when venues are open, artists and creatives will use online spaces more and more. Jeeni is a great platform for them to do this as it is more ethical than most of the larger corporations and Jeeni artists keep 100% of everything they earn. The next topic we wanted to highlight was brought to our attention from an NME article: “Fewer than 800 UK musicians make a living solely from online streaming,” and also “A particular finding points to artists making a “sustainable living” from streaming alone, revealing that approximately 720 British artists are able to. Those 720 musicians fall into the 0.4 per cent category of those who are achieving more than one million UK streams.” It is clear it is already challenging for independent artists to make decent earnings from streaming but "Spotify’s New Marquee Promotion Feature Is Forcing Artists to Pay to Reach Fans They Already Have — As Much as $0.50 Per Click” says Digital Music News. The big players in streaming are continuing to rip off artists and their fans alike. The article goes on to state that “it would take artists anywhere from 100 to 167 streams (on Spotify) to break even on just one sponsored click. That means each person who clicks on a sponsored Marquee campaign would have to listen to a new album roughly 12 times for the artist to break even on that fan’s interest." Thirdly, Twitch and the music industry clashed back in 2020 over licensing streamed music. Now a deal has been struck, but streamers are unhappy. Many streamers on the platform were hoping for a change but the deal remained virtually the same. "Only listen to safe music." All Jeeni royalty-free songs on the site are safe to use while streaming. Fourthly, the New York Digital News site published a story surrounding TikTok and the platform’s new massive impact on music. Stating “TikTok is evolving into a very different kind of music streaming giant. TikTok creators who aren’t musical creators themselves are using music. Musicians get paid off the back of that, and it can become a healthy revenue stream. It helps break songs and artists, consumption goes up on the other platforms, more tickets are sold, a bigger live-streaming event can happen etc.” Lastly, only just falling into the monthly round-up we wanted to highlight the release of the latest James Bond film No Time To Die. “One of the most famous pieces of film music of all time, this has featured in every single Bond film in some form or another since it played over the opening credits of Dr No back in 1962 is the John Barry & Orchestra, Monty Norman – James Bond Theme (1962)” Each film has a title song dedicated to it including the new track by Billie Eilish- No Time To Die. But the all-time Jeeni favourite has to be Paul McCartney's "Live And Let Die", which was written on the Wings Bus that Jeeni helped to rescue, and which goes back on the road next year. Watch this space for exclusive info on that one!

04
Jun

A $0.003 reward?! We’re Twitching at the thought!

Twitch has always been popular amongst the gaming community. It was created initially in 2011 as a platform for gamers to use in order to live stream as well as broadcast live Esports events and competitions and has since retained on average 15million daily users. With so much more of our time spent online due to the Covid-19 pandemic, Twitch has expanded in regard to what they broadcast and live stream: talk shows are growing in popularity as well as live streamed music to name but a couple. As the date for the resumption of normality approaches and with it the reopening of concert halls and live shows, one can speculate as to what will happen to those artists that have decided to make use of these live streaming platforms as a source of income. Twitch users reportedly spend three times as much time on the platform as on Sportify and YouTube so the potential for it to be a very lucrative platform for music makers and artists is what has been looked into by Will Page, an economist who runs Tarzan Economics. He worked alongside various teams in order to understand how live streaming and live music may co-exist in the future. “Live streaming won’t go away when live music returns.” -Will Page In 2002, one of the first music streaming services Rhapsody, offered a $9.99 monthly price which is the same as what we see today for similar music streaming services. What is provided is also pretty much the same as what was offered in 2002; fans remain largely disconnected from their favourite artists, they are unable to offer direct compensation to creators, and ‘cross-usage’ occurs frequently as a listener is often subscribed to multiple platforms. “None of the on-demand streaming services that have since sprung up enable immediate engagement, this is a relic of the music industry of old.” -Will Page User engagement is something that both Twitch and Jeeni offer, and not only does it allow the fans to be more involved with the artists they love, but it allows the artists to be fairly compensated, a huge issue which is now being petitioned against by the Broken Record Campaign. See our last blog post for more information and ways that you can support the campaign. According to Will Page, the typical music streaming model has approached the way in which artist are compensated in one way: “the platform aggregates all the streaming data and revenues from a specific market and product over a specific time period, divides an artist’s share by that sum, and allocates revenues proportionately. Get 1% of all the streams, and you’ll get 1% of all the money. This has spurred much debate within the industry, as heavy streamers are effectively subsidised by light streamers, or as Quartz controversially put it: Your Spotify and Apple Music subscriptions pay artists you never listen to.” In essence, the modelling simply just isn’t fair, and neither rewards the artists or their fans for supporting them. The way in which Twitch brings in money, however, varies across three methods similar to Jeeni: Creator Channel Subscriptions, Bits allow users to support creators directly on the service, and advertising. Will Page made a comparison between creator earnings on Twitch, which average at $0.15 per-hour-per-user, with that of global streaming services at which the rate per-stream is set at roughly $0.003. By taking the $0.003 per stream and multiplying by 17 (assuming a song lasts 3 minutes this equates to an hour of listening time), then applying an average 20% royalty rate, this results in a creator’s “revenue-per-hour listened” at just $0.01. My jaw dropped, did yours? Twitch has proved it can monetise over 10 times better than music streaming, however this only applies to creators’ most loyal fans that tune in on a regular basis. "If you keep the full $100 of each true fan, then you need only 1,000 of them to earn $100,000 per year." -Kevin Kelly, The Technium, 2008 Do you want to spend hours watching your favourite gamer and at the same time, fairly compensate and reward them for their time and effort? Well of course. What Twitch does for gamers, we want to do for music makers and artists here at Jeeni. Look out Twitch, we’ll meet you at the finish line.

05
Jun

How to Apply To Play Music Festivals & Events Across the World

Jeeni Blog