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Lately, I have been targeted by a particular Youtube ad, featuring a dude explaining how he found a way to build a ‘real’ fanbase, and how he did that by discarding the traditional streaming-driven approach; his target was to connect with actual people, instead of stalking playlists. In fact, he was saying how ‘useless’ it can be to rely on big playlists for one’s fanbase.
While I do agree with this stance - partly and with context limitations - I also came across an article by Michael St James on Performers Magazine, where he explains how he was targeted by the same kind of ads and how, in his opinion, it is wrong to dismiss streams as a fanbase building tool:
📚 The Myth of Fanbase Building
“I’m giving you permission to chase every single stream or view. You should get them however, whenever, and from whomever you can. Why? Because I am going to let you in on a little industry secret: not everyone who listens to your music is, or ever will be, a fan. Read that again.”
I have to say, the article makes some really good points. So where does the truth stand? Well, as always, it is in the middle. And to be fair, if you really think about it, the myth of the ‘obsessed super fans’ - willing to buy merch and tickets constantly - is probably just, well, a myth.
Are Music NFTs Dead? - Michael St. James
“But is it? Look at that OpenSea number. If NFTs are dead, someone forgot to tell those 20,000 new people who are downloading the app each day. That’s still a monster number.”
“It’s going to be harder for independent musicians to get traction in a down market. You’re going to have to hold the hands of your fans and convince them why they should go through the hassle of wallets and converting fiat to coins. You’re going to have to be an advocate and really assuage the concerns of your fans, because they see all these stories about being ripped off or scammed (we call those rug pulls). You’re going to have to provide a lot more utility and value, meaning more exclusive items, more physical items or experiences to convince your fans this is worth their time.”
“It’s an exciting time. But, do not let this Music NFT madness derail you from what matters most, the actual music.”
As the legendary British group remind us, ‘Shout’ was reaching the top of the charts on August 3rd 1985. So many mullets have come and gone, but we are still listening and bopping to a track that is a banger even today.
Wait, am I feeling nostalgic? I wasn’t even born yet…
Someone on Reddit also wondered why we feel nostalgia for a period we haven’t lived. It turns out, it is just Rosy Retrospection.
Industry News
📱 Snapchat To Pay Distrokid Artists Monthly Grants Up To $100,000 Via New ‘sounds’ Creator Fund
“Snapchat is launching a new Creator Fund, which it says is designed “to recognize emerging, independent artists for the critical role they play in driving creation”. Starting in August, Snap says it will pay monthly grants of up to $100,000 to independent artists who are distributing music on Snapchat via DIY distributor DistroKid.”
🏺 TikTok’s SoundOn service allows official pre-releases of songs
“TikTok’s marketing and distribution platform SoundOn has launched Pre-Release, “a self-service feature that empowers artists to give TikTok listeners exclusive access to clips in advance of releasing their tracks.”
💷 Shopify Invests In Music Commerce App ‘Single’
“The launch of Single’s new…features in their Shopify App helps more merchants unlock new and engaging commerce experiences. Our investment in Single and our growing blockchain ecosystem demonstrates our commitment to further grow participation in Web 3.0 and expand commerce possibilities for creatives, artists and musicians.”