Streaming Revenues - a tipping point?

Jeeni Blog

Helping the next generation of talent to build a global fanbase

Streaming Revenues - a tipping point?

At Jeeni, this is a subject we are following closely, being a platform set up to address this very subject. The balance of revenue on most platforms, is tipped far too heavily away from the artists, performers and writers, in favour of the suits and pen-pushers. Quite frankly, it's a disgrace! Jeeni's ethos is to ensure any performing members receive 100% of the revenue they generate. Should all streaming services work the same way?

Journalist Dylan Smith, from Digital Music News has written the article below, updating how far the DCMS Committee has got with their fact finding and the issues to be presented on 11 December.

Digital, Culture, Media and Sport Committee Chair Julian Knight. Photo Credit: David Woolfall

British lawmakers have stated that artists are hesitant to participate in the ongoing investigation into streaming royalties “because they fear action may be taken against them” if they do so.

The House of Commons’ Digital, Culture, Media and Sport Committee (DCMS Committee) announced the high-profile probe of streaming royalties last month. The comprehensive analysis aims to identify streaming’s impact on all relevant stakeholders, including labels and artists, as well as its long-term effects concerning “the sustainability of the wider music industry.”

Last week, singer-songwriter Nadine Shah, Radiohead guitarist Ed O’Brien, and Elbow frontman Guy Garvey spoke before the DCMS Committee to address the contemporary music landscape. Of particular note was Shah’s statement that she doesn’t “make enough money from streaming” to cover her rent, despite having north of 100,000 monthly listeners on Spotify.

Possibly in response to the abundance of information that the investigation has turned up thus far, the DCMS Committee also announced last week that it had extended the window for artists and others to submit written testimonials regarding royalties. From the original deadline of Monday, November 16th, members of the music industry now have until Friday, December 11th, to express their opinions.

The probe’s upcoming oral testimony, for its part, is slated to take place next Tuesday, December 8th, with Maria Forte Music Services’ namesake owner, Ferocious Talent owner Kwame Kwaten, and José Luis Sevillano, director general at Spain’s AIE, set to participate via livestream.

Ahead of the formal sitdown, DCMS Committee Chair Julian Knight has relayed that many would-be witnesses are opting not to come forward due to their fear of the potential professional consequences associated with speaking out against streaming royalties.

“We have been told from many different sources that some of the people interested in speaking to us, in relation to this inquiry, have become reluctant to do so because they fear action may be taken against them if they speak in public,” said the Solihull MP, who became the DCMS Committee’s chair in January of this year.

“I would like to say on behalf of the Committee that we would take a very dim view indeed if we had any evidence of anyone interfering with witnesses to one of our inquiries. … This Committee will brook no such interference and will not hesitate to name and shame anyone proven to be involved in such activity,” continued Knight.

And in concluding his statement on the matter, the lawmaker emphasized that others who reach out to the DCMS Committee with information or insight pertaining to streaming royalties “will be treated in confidence.”

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05
Jun

What can the music industry do to reduce its carbon footprint?

The carbon impact of all those gigs and gatherings is up for debate more now than ever, big acts such as ColdPlay and Massive Attack have cancelled gigs until they can measure the impact on the environment. But not all artists are in a financial position to cancel all their gigs and many artists rely on touring for an income. Let's be real most musicians and performers can not afford an environmental consciousness. Today on Radio 4 Tom Heap asks what the music industry can do to reduce its carbon footprint. Tom spoke to various different artists and also interviewed the founders of Music Declares Emergency - No Music On A Dead Planet https://www.musicdeclares.net/. The main three areas for discussion included the emissions for the band travelling, moving the equipment, the venue emissions and the impact of audiences travelling to and from the event. Having listened to the show I checked out Music Declares Emergency - No Music On A Dead Planet https://www.musicdeclares.net/ which advocates the following: We call on governments and media institutions to tell the truth about the climate and ecological emergency.We call on governments to act now to reverse biodiversity loss and reach net zero greenhouse gas emissions by no later than 2030.We recognise that the emergency has arisen from global injustices and will work towards systemic change to protect life on Earth.We acknowledge the environmental impact of music industry practices and commit to taking urgent action. We have signed up and will follow Music Declares and are very interested in how our members can benefit, however the interview raised many contradictions and many of the suggestions for us were very weak and hypocritical. But it is very tough debate. We get that. To summaries the main suggestions in the interview with Tom included the following: Standard riders to not include plastic Not to allow single use plastics at events Always use renewable power sources when you can Event organizers to insist on recycling as a priority Working with responsible corporate partners Not to work with financial institutions that are not responsible Using LED lights to reduce energy use Put restrictions on touring, travelling and taking less equipment Use streaming media as an alternative to reach audiences Do not fly around the world to shoot gigs on environmental change Going on a bus rather than taking your own car Car share Put pressure on venues to be more environmentally friendly Getting rid of plastic CD cases Ecological packaging Environmental merchandise and use organic materials Higher train usage, go car free Ecological and renewable streaming and data storage Rent all the equipment at location and not travel with all the kit you need Do not produce and sell vinyls The largest omissions on carbon footprint is the audience travelling so a main argument from the artist is that they need to travel to the audience. Surely, the suggestions made in the interview is not enough and it will not deliver the outcomes to climate change that is needed, it is sycophantic and feeble for global change. In our view the recommendations and solutions suggested are not sustainable themselves. However, Music Declares Emergency have a great section on their website which is much more comprehensive and lists about actions for artists, songwriters, producers, a label, publisher, a venue, festival live music promoter, manager, agent and fan. So we are going to support them.

10
Jun

Nextfin independently rates Jeeni 77% investment opportunity.

This morning Jeeni were independently rated by Nextfin and our pitch was rated 77% overall. Management rated 68%, Product 76% and Investment Opportunity 88% with 80% being their gold and highest rating. If you would like to see full report check out our pitch rating here: https://lnkd.in/ecq6xG3 Jeeni, the social music platform that brings artists closer to their fans – and shares revenue ethically – is poised to become the first Portsmouth-based start-up to go on Crowdcube for its third round. Jeeni overfunded in 6 days. If you want to see our pitch click HERE. We have 11 days left to invest. With 350million streamed music subscribers and market growth up by 39% this year, Jeeni is likely to ride the wave and be a huge success, not only with unsigned musicians and performers but with their superfans. “We’re standing by to raise £100,000 for 2.4% with a pre-market valuation£4M,” says Jeeni founder Shena Mitchell. “And while we are already negotiating with several major investors, the beauty of Crowdcube is that the artists themselves can actually own a stake in the company for as little as £10.” Shena continues, “Jeeni’s mission is to support unsigned music and performers, by helping them build a fanbase. We aim to fast-track careers in the music business, and make sure they take the lion’s share of the revenue that’s raised. Jeeni is needed more now than ever and we have proved that the demand is high. Currently we can only support 100,000 videos, so we must now move up a gear as we head for global roll-out. This Round Three investment will be used to scale up again and launch our next-generation platform. It will also be used to develop our IoS and Android apps." When the financial backing has been secured and we go live, we’ll be creating new jobs in the area, which is great for the local economy. When you consider the wealth of music talent in Portsmouth – hosting over 2,000 music events a year with Victorious, The Guildhall, Band Stand, Wedgewood Rooms, and all the Portsmouth Festivities and pubs – we’re alive to the opportunities of our local music culture, creativity and talent. But with live venues locked down for now, the online opportunity of Jeeni is needed more than ever. It’s so cool to think someone reading this might choose to invest in Jeeni now with just £10, and then use Jeeni to build their own fanbase for fame and success! We’re going to try hard to make sure that happens.” JEENI is currently inviting investment on Crowdcube. To find out how to get involved please join our mailing list for updates or check out our fundraising pitch. If you want to see our pitch click HERE.

03
Mar

Team Jeeni- 4 months today since Lockdown.

LOCKDOWNThe impact of the pandemic crisis on the Jeeni project continues to be remarkably positive, not least because we have genuinely been able to help hard-hit artists and performers. The decision to open Jeeni for free subscriptions to all-comers in response to lockdown has seen mass sign-ups via our website and online community. Yesterday, Jeeni returned to Crowdcube to raise more funds for helping new talent. Jeeni founding director Mel Croucher says, “We’re ahead of our original schedule, but there’s still so much more to do. We need to scale our online platform globally now and build our mass artist showcases to hit all our targets, and give our new artists the recognition they deserve.” We have already reached 90% of our target so if you want to see our pitch click HERE. Shena Mitchell, Jeeni founding director, says: "I have never worked so hard in my life, but it's actually been a welcomed distraction. I am fortunate that I have been working from home for many years, so no change there, and fortunate to be living in a house with an office and a garden. Living on my own 24/7 for 120 days has been a challenge. Working with musicians and performers in lockdown has been a massive privilege, listening to music all day and watching magical performances is a treat for me, as up until 2 years ago I was mainly working in academia and public sector fundraising for start-ups, which I loved. But working with Team Jeeni creatives is a dream come true. Most importantly, during this time of lockdown we have been able to reduce the cost of acquisition from £3 an artist to zero, and has again proved the concepts successfully pioneered in our Directors' previous marketing campaigns. We are connecting, collaborating, sharing and supporting each other, while we have fun and make a real difference, and we are delivering well. We now have over 27,000 unsigned artists waiting to be uploaded, with over a 1,000 new artists joining every day. As predicted, once the flood gates opened we would have plenty of content and could easily reach 100,000 videos relatively fast at no cost. However, we need to carefully balance our success against storage and streaming costs and that is why we have decided to relaunch Jeeni as a paid subscription service." Jeeni aim to raise £100k for 2.4% equity with a pre-money valuation of £4million. Jeeni is needed more now than ever and we have proven that the demand is high. Jeeni Generation-4 will only support 100,000 videos, so we must now embrace Generation-5 as we head for global roll-out. TEAM We are pleased to welcome five new members to Team Jeeni. Andrea Harding: Social Media. Dedicated to reaching out to new audiences, spreading the word about Jeeni artists, and helping build their fanbases. Sharron Goodyear: Image Maker. Photographer of the Year Winner, Jeeni official photographer for artists, performers, promotions and events, specialising in online virtual shoots. Sammie Venn: Writer, Columnist and Blogger. Syndicating Jeeni news, interviewing and promoting our members, and spearheading our poetry and drama channels. Louis Mitchell: Video Wrangler. Identifying up-and-coming unsigned musicians, performers and dancers focused on Asian Hip Hop, Grunge and Rap. Lizzie Crow. Popular presenter for the BBC and top commercial broadcasters, and our go-to expert for voice-overs, podcasts, jingles and spoken word channels. Click HERE to visit or return to jeeni.com

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