official.fm’s Weekly Music Biz Recap #10 (yay!)June 27th, 2011 | weekly music biz recap
Sometimes there are slow weeks where we struggle to find much great news to share, but this week was absolutely packed and instead we struggled to keep this post short and to the point. If you have a lot of time on your hands, go check out a very thorough article looking at whether it’s possible to succeed without a record deal. This kept a lot of our (already limited) free time occupied, but luckily we didn’t exactly have to dig for the great headlines this week. Enjoy!
♪ Turntable.fm blocks access to everyone outside the US. Just a week ago we reported about Turntable.fm and how it was making music more social, but it appears they felt forced to block users outside the US due to licensing issues (Techdirt already predicted trouble for the platform). At the moment arranging proper licensing is so complex, that there is not a single major music platform that’s globally licensed (not even YouTube).
♪ Facebook, with 750 million users, to launch ‘Music Dashboard’ with Spotify and others. Facebook appears to realize that content like music makes users spend more time on the platform, which eventually leads to more ad income.
♪ Analyst predicts 150m iCloud users and $1.5bn annual iTunes Match revenues. Although not everyone appears to be happy with the prospect of iTunes Match due to it arguably legalizing unauthorized downloads, the injection of $1.5bn will probably receive a warm welcome.
♪ Study says connecting with fans great way to counteract piracy. Meanwhile those worried about the unauthorized downloads, should perhaps put more focus on developing a strong connection with their fans.
♪ The Echo Nest launches Echoprint a free open-source music fingerprinting and identification service. Makes one wonder if the folks that invested $32 million in Shazam are feeling anxious now…
♪ “Brands will soon account for 50% of music industry revenues“. More signs of the power of the traditional labels seemingly crumbling…
♪ Finally, two great ‘do it yourself‘ gems we found! Check out the musician’s guide to LinkedIn which is one of the top social networks after all. Also don’t miss this infographic called The Science of Social Timing using research by Dan Zarrella into when it’s most effective to post stuff to social media.
That’s all. As always, don’t hesitate to reach out.