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How Streaming Influences Concert Choices and Music Consumption - MIRA 2017

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Gigi Johnson presented this discussion at the Music Industry Research Association Conference at UCLA in August 2017.

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How Streaming Influences Concert Choices and Music Consumption - MIRA 2017

  1. 1. How Streaming Influences Concert Choices and Music Consumption Gigi Johnson, EdD Executive Director, UCLA Center for Music Innovation UCLA Herb Alpert School of Music @MusicInnovUCLA Innovation.schoolofmusic.ucla.edu
  2. 2. CMI’s Question: How Artists can live/thrive on .2-.8 cents per stream -- before splitting up the results? “We will make it up in Volume.” “We will make it up in Live Performance.” Will we? Who will? What are future trends?
  3. 3. Making It Up in Live?
  4. 4. UCLA is Asking This Question in Los Angeles How is Streaming affecting live venues, performances, and communities? Song CommunityExperience 40+ interviews into a study across the region
  5. 5. Original Hypothesis Music streaming is negatively impacting small venue live performance revenue as a substitute good in competition for both time and money •No and Yes •Not that simple
  6. 6. Music Cities: Other Research on Local Live Music http://www.austintexas.gov/department/austin-music-census-report
  7. 7. Music City? Music Cities in a City? Questions: • How does this differ by demographic? Venue size? Our own study -- at about 40 interviews and finding differences by venue type, genres, fan ages, etc. Kpop and Latin -- very different than EDM. • Tracking and data for interventions -- what are we tracking as a starting point? How to measure a venue/venues? Seats? Capacity utilization? How do we track shifts across a city? LA: Shifts to downtown, Chinatown, further west -- if/how measured?
  8. 8. Who is Coming to Concerts? How? Why? Source: Ticketmaster Live Analytics, 2014 Data, via SlideShare
  9. 9. “…the top 1% of live artists (many of whom are aging heritage acts) account for 68% of all live revenue.” MEDiA, Mark Mulligan https://musicindustryblog.wordpress.com/2017/06/15/do- not-assume-we-have-arrived-at-our-destination/
  10. 10. How are fans making decisions on how and where to enjoy live music? WHO is doing both? How does this impact venues and local music communities? How are venues changing (or not changing) the content and experience in light of streaming? Music Consumption Concert Choice
  11. 11. Key Driver: Our Smartphones
  12. 12. Source: Nielsen Total Audience 3Q 2016 Smartphone: Expanding Media an Hour a Day since 2014
  13. 13. Making It Up in Volume? - 100 200 300 400 500 600 700 800 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 US Recorded Music, Cume Album Equivalents CD Unit Sales Digital Album Sales DDL/10 Audio Streams/1500 Video Streams/1500 SOURCE: Nielsen/Soundscan
  14. 14. New – up to 8 weeks old (2 mos) Recent: 8-78 weeks old (2 mos to 18 mos) Catalog: 78-156 weeks old (18 mos to 3 years) Deep Catalog: more than 156 weeks old (3 years) Discovery? Or Reminding You of What You Love?
  15. 15. Volume for Whom? Challenge of Recall and Attention: 42% of Streams for 5,000 Tracks
  16. 16. Streaming Music: Connected Music, People, and Environments Song CommunityExperience Connecting = The New Curation Immersive, Everywhere Music Music + Data + Location = Immediate, In- Context Data Lifestyle, Pervasive, In-Context Advertising Playlist as the New Radio – Reaggregating Audiences Knowing YESTERDAY – but WHO knows? Who owns that info? WE are the Product vs. the Song
  17. 17. TSL All Music Listening Source: MusicWatch Inc.
  18. 18. TSL 2016 Share Source: MusicWatch Inc.
  19. 19. And Who Says? Spotify vs. Non-Spotify Curators Source: Chartmetric.io
  20. 20. The Weeknd KREAM (Deep house, Norway) Source: Chartmetric.io via Medium (link)
  21. 21. Selling our Behaviors to Brands
  22. 22. Selling our Behaviors to Brands
  23. 23. Playlists: The New Radio? Album?
  24. 24. So What is the New Customer Journey? How does the fan do more than just stream and share?
  25. 25. Eventbrite/MusicWatch Study: Streaming and Social Impact Discovery
  26. 26. Eventbrite/MusicWatch Study: Discovery Leading to Tickets
  27. 27. How do Venues wrestle with Discovery and Recall? Open Question
  28. 28. Connect Fan Armies / SuperFans iBeacons LISNR / apps Ampsy Predict Business Intelligence Units Influence / Discovery/ Recall BandsinTown Songkick Spotify Concerts Eventbrite / Spotify / FB Ticketmaster CRM SEO / Customer Journey Digest Tools Pandora AMP Chartmetric.io Cayo5 Pollstar Data Silos Splinternets Google/FB
  29. 29. 29 Fans as Marketers – After? New Expectations of “Experience“ “FOMO”: Fear of Missing Out
  30. 30. Rethinking music as creative and fan communities • Floating Clubs between venues and in alternate spaces • Curation communities • New collaboration communities – artist collaboratives
  31. 31. Future Trends: Next Influence Dances • Business Intelligence departments at Ticketmaster, AEG • Predictive analytics • Conversational computing / Personal assistants
  32. 32. Data + Natural Language Processing =
  33. 33. Alexa Questions
  34. 34. “Alexa, play Ed Sheeran.” Results revolve around “popularity and relevance to the consumer.” Steve Boom, Amazon Music VP in interview with Billboard
  35. 35. http://www.musicwatchinc.com/blog/thanks-alexa-friends-with-benefits/
  36. 36. Echo/Alexa: Expanding the Footprint
  37. 37. How We Ask . . . Even Now . . . Marketing Into Bots and Natural Language Processing
  38. 38. Retail is Rethinking: What is a Great Live Experience?
  39. 39. Not Just Live Music: Meanwhile, Dramatic Shifts in Retail
  40. 40. And Mobile Reading Live Experience: Adding to Where You Are: Computer Vision and AR in RL
  41. 41. SOMEONE Knows Exactly What You Did Yesterday Business Intelligence Predictive Analytics New Tastemakers Aggregators as New Power Brokers Playlists as the New Radio Continuing Question: How can/should Venues engage with the New Curators and Systems?
  42. 42. UCLA Center for Music Innovation Gigi Johnson, EdD gigi.johnson@ucla.edu @MusicInnovUCLA “Innovating Music” Podcast http://innovation.schoolofmusic.ucla.edu

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