Coachella And Stagecoach Postponed To 2021
This past Wednesday Goldenvoice announced that its festivals, Coachella and Stagecoach, are rescheduled for April 2021. Although smaller venues are finding ways to reopen for this year, this announcement is a clear indication that other large scale events will likely be postponed to 2021. As we enter the peak concert season, it will be interesting to see how much of an impact these postponed concerts will have on the live event industry.
Country Music Streaming Sees Biggest Streaming Increase
According to Nielsen/ MRC Data, Country music has seen the most growth in streams since mid-March at 22.4% or an increase of 127 million streams a week. According to Lucas Shaw’s article, some reasons for this increase are that country music is considered a “comfort food” or that it’s a complementary good to drinking (alcohol sales growth is up for online and in store by 477% and 26% respectively from last year). However, perhaps the biggest reason is many country music listeners who have primarily listened to music via traditional sources like radio are now discovering streaming platforms. This statistic suggests that music genres have fine nuances, meaning artists must understand where their fans are consuming their content and must market appropriately.
Scooter Braun And Entertainment Celebrities Invest In Virtual Concert Startup Wave
Music executive Scooter Braun, along with Alex Rodriquez, Rick Farman (co-founder of Superfly), and Kevin Lin (co-founder of Twitch) have invested in Wave, a music technology which allows creators such as John Legend and Tinashe to provide virtual, interactive, live, and free concerts for their fans. With $40 million in total investments, the company stated that it will use the money to fund international expansion, artist avatar design, new virtual venues, and interactive experiences. This high profile investment further showcases how current market conditions have made the entertainment industry view virtual concerts and other digital events as serious revenue streams for artists. Therefore, artists must be committed to learning about these new methods of fan engagement and make sure they have the funding and business plan in place to quickly execute on these opportunities.
Creator – New AI-Driven Tool That Produces Higher Quality Content More Efficiently
LANDR, a music sample database and service provider that provides production assistance to over 3 million people, just launched a new tool, Creator, an AI driven tool that allows artists to preview up to 8 loops together, automatically adjusting pitch and time-stretch to match the selected key and tempo. The hope is to allow creators to focus on making creative decisions without the hassle of downloading and manipulating the sounds themselves. Tools like Creator are lowering the technological barrier to entry, helping artists of all skill levels produce higher quality content more quickly.
Atlantic rapper, Kenny Mason has enjoyed initial success with his first album, “Angelic Hoodrat,” amassing millions of plays across platforms. His branding of embracing his hometown is consistent throughout the album’s lyrics as well as his choice to feature his friend group in 2 of his 4 music videos. Additionally, Kenny smartly utilized the single song release strategy, fortunately catching significant traction with his track, “Hit” on Spotify as well as the track being featured on over 1000 TikTok videos. This initial traction fueled anticipation for his full album. While Atlanta is saturated with talented rappers, Kenny has been able to differentiate himself with consistent branding and a savvy marketing release strategy.
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