Quibi’s Dramatic Release Met With Mixed Results
Quibi, the new billion dollar 10-minute short form video platform has so far been met with mixed results.
- 1.7 Million downloads first week (Comparison: Disney Plus 10 million on launch day)
- Dropped to #71 on the Apple Store (Comparison: Youtube #11, Netflix #20).
Reasons For Comparatively Slow Start:
- People don’t want to pay for short form content when platforms like YouTube/ Tiktok are free
- Quibi’s content format and daily release strategy do not fit current consumer behavior
What this means for short form content:
Quibi opens the conversation on improving monetization for short form content
Independent Artists Are Releasing Music Faster
The “One World Together at Home” Concert, provided by Global Citizen and the World Many independent artists are actually increasing their content output. Tunecore and Ditto, two of the largest independent digital distributors during this period saw a 20% and 300% increase in music uploads respectively. Artists being forced to stay at home and the potential loss of touring revenue appear to be the main drivers of this trend. While it’s great to see increased productivity among independent artists, they must remember that the consumer is already overwhelmed in our digital consumption society. Finding clever ways to release content and stand out will continue to become more important.
One World: Together At Home Concert Successes And Drawbacks
This past Saturday, the One World: Together At Home concert, a 6 hour YouTube live stream + 2 hour multi-network broadcast showcased some of the best artists around the world, captured everyday people living their daily lives from home, and praised the brave medical workers and volunteers on the front lines. Public reviews appeared to be positive based on the YouTube comment section and Twitter posts. While this event was a great united effort, turnout for this event was below par with the YouTube livestream averaging around 600,000 live viewers and the three main broadcast networks (NBC, ABC, CBS) coming in below their averages at 14 million viewers or 4.67 million viewers each. This suggests that even the top performers have not found the perfect recipe to engage their fans with “at home” concerts.
Katelyn Tarver & StarsInTheHouse
Just as we have reconnected with highschool classmates and family members we haven’t talked to in years, some creators are reuniting with their former cast members and band members, creating a buzz! Here are our favorites:
Reconnected with former “Big Time Rush” cast member Kendall Schmidt and “Songland” coach Shane McAnally on Instagram Live.
Tips For Creators:
💩Happens, Creators, What Are You Going To Do About It?
With touring coming to a near-complete halt, music business advisors are weighing in on tips for creators to survive and adapt to the current environment. Here are a few highlights and examples:
1. Budget: Know your expenses
Ex. Marie Miller created a budget prior to funding, recording, and releasing her album.
2. Create Content: With streaming numbers up, capitalize on this time to continue writing, recording, and releasing music.
Ex. Alec Benjamin quickly put together his single “Six Feet Apart,” a relevant anthem about social distancing.
3. Creative Go-To-Market Strategy: Find interesting ways to engage fans and include them in your journey.
Ex. Country Star Morgan Wallen first played his new song, “More Than My Hometown” on his live stream, generating hype before it’s official release on April 17th.
In summary, now more than ever, it is crucial to place heavy emphasis on frugal budgets, increased content, and creative go-to-market strategies.
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