Instagram TV To Add Advertising
Beginning next week, Instagram TV will be monetizing through ad revenue. Justin Osofosky, COO of Instagram, says the platform will be paying creators an industry standard of 55% of money generated from selling ads. The roll out of this feature is limited to a select batch of creators and advertisers. Facebook, Instagram’s parent company, has already made developments with products such as Facebook Live, Badges, Instagram Live, Live Shopping, and Brands Collabs Manager that help creators remain engaged with their fans during this tough time. Monetization of Instagram TV will hopefully provide creators with an additional way to earn additional profits and grow their personal brand.
HBO Max Joins Streaming Rat Race
On May 27, WarnerMedia launched its own streaming platform, HBO Max, effectively entering the streaming ratrace with Netflix, Amazon Prime, Hulu, Disney+ and Quibi. As one of the most expensive streaming subscriptions at $14.99, HBO Max will be a one-stop shop for Warner Media’s massive library of content, including the “Harry Potter” films and hit sitcoms “Friends” and “The Big Bang Theory.” The platform’s launch has been met with mixed criticism as it only had 87,000 downloads on opening day (Quibi and Disney+ had 380,000 and 4,000,000 respectively) and failed to secure licensing rights for some of the titles that it promised to have such as the “Dark Knight Series,” upsetting customers. However, HBO Max’s underwhelming downloads are an underestimate as it fails to capture the millions of already subscribed HBO users that have been upgraded to the product. Additionally, it is only a matter of time until Warner Media resecures its titles. HBO Max’s launch provides another example of major studios looking to capture streaming revenue of their own titles, forcing platforms like Netflix to pursue more original content. While it is unclear who will emerge victorious in the streaming platform war, hopefully this increased competition leads to more opportunities for creators to get content on to platforms.
Warner Music Group’s IPO Coming Back On June 2nd
Warner Music Group announced that it plans to relaunch its IPO on June 2nd. It hopes to raise between $1.6 and $1.82 billion or around a 13.7% stake in the company. The company had planned its IPO earlier in the year, but decided to push back its IPO after COVID-19 significantly increased volatility in the markets. As the largest IPO of 2020, this IPO hopefully suggests that the stock market is recovering and will hopefully provide more transparency into the record label business.
Aaron Watson, an independent country music star, has had three albums top Billboard’s Country Album chart, with one at No. 1 on iTunes’ All-Genre chart (referenced article was written before his newest album, “Red Bandana,” which peaked at #3 on Billboard). He treats his fans as a small-business might, where all his fans are individually important to him. He wants his fans to have a more personable and memorable customer experience, meaning he does signings at Walmarts and Targets instead of big talk shows; he does not charge for meet-and-greet sessions, and stays late with his fans after shows. This small business format has led him to have a long and fruitful career, and he recently celebrated his 20th year performing. Independent artists can improve their brand and image by connecting with their fans on an individual level.
Blu DeTiger, an upcoming independent artist from New York has already seen significant traction despite only having four songs out. She comes from a rich musical/ artistic background, born to artistic parents, playing bass from the age of 7, DJing in clubs at the young age of 17, and discovering a passion for fashion. She has combined these elements together in her TikTok bass covers of popular songs such as Madison Beer’s “Selfish” and the “Seinfeld” bass theme song. These covers have allowed her to promote her own music, with her newest song, “Figure It Out,” gaining massive success as many famous TikTok influencers have created over 67,000 videos from it. By establishing her branding quickly in an engaging way, Blu DeTiger has found significant traction in a COVID-19 world.
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