Music 4.5: Chris Cooke, Managing Director & Business Editor, CMU
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Music 4.5 Opening remarks - The Story So Far... Introduction by the chair of the day Chris Cooke, Managing Director & Business Editor, CMU Chris Cooke, Managing Director & Business Editor, CMU
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Music 4.5: Chris Cooke, Managing Director & Business Editor, CMU
- 1. CMUinsights.com I N S I G H T S
- 4. CMUinsights.com CMU NEWS & INFORMATION CMU Daily CMU Podcast CMU Digest CMU Trends Report CMU EDUCATION PROGRAMMES CMU:DIY: Workshops Interviews Online Guides CMU TRAINING & CONSULTANCY CMU Insights: Seminars Masterclasses CMU@TGE
- 5. CMUinsights.com The YouTube Paradox THE STORY SO FAR CMU INSIGHTS @ MUSIC 4.5
- 6. CMUinsights.com in the beginning there was… THE YOUTUBE PARADOX: in the beginning and it was good!
- 7. CMUinsights.com THE YOUTUBE PARADOX: in the beginning We were told… everybody is a creator! And it’s all about… user-generated content
- 8. CMUinsights.com THE YOUTUBE PARADOX: in the beginning But it turned out… everybody is a curator! And it was more about… user-stolen content
- 9. CMUinsights.com THE YOUTUBE PARADOX: the music industry + YouTube The music industry saw a flood of its songs and recordings being uploaded to YouTube, both in the form of music videos that had been ripped off TV and as soundtracks to other content. Though at the same time, labels recognised YouTube was a user- friendly browser-based fully-embeddable video platform via which they could distribute their own promotional videos at no cost.
- 10. CMUinsights.com But nevertheless – it was clear YouTube was building a mass audience and a massive business in no small part with unlicensed content, claiming safe harbour protection to its critics in the music rights sector. THE YOUTUBE PARADOX: the music industry + YouTube
- 11. CMUinsights.com What do do? Ignore, license or sue… Most music rights owners ultimately licensed YouTube, the majors taking equity pre the Google acquisition. THE YOUTUBE PARADOX: the music industry + YouTube
- 12. CMUinsights.com YouTube began to hone its rights management system Content-ID, allowing rights owners to monitor and monetise their songs and recordings on the YouTube platform. Meanwhile YouTube allowed certain rights owners to control some of the ad collateral around their videos – eg Vevo and Warner Music controlled channels THE YOUTUBE PARADOX: the music industry + YouTube
- 13. CMUinsights.com YouTube started to generate ad revenues for rights owners. At the same time, YouTube became both a significant music marketing and a significant music consumption channel. THE YOUTUBE PARADOX: the music industry + YouTube
- 14. CMUinsights.com So, music was increasingly being both marketed and consumed in the same place – even more so as the digital music market began to shift from downloads to streams. THE YOUTUBE PARADOX: the music industry + YouTube
- 15. CMUinsights.com This might make sense. Except compared to paid-for streaming services, the ad revenues from YouTube are modest. And if the marketing channel is competing with more lucrative consumption channels, that’s a problem. THE YOUTUBE PARADOX: the music industry + YouTube
- 16. CMUinsights.com So the music industry started to fall out with YouTube. Which has fueled the safe harbours debate – because the music industry feels its negotiating hand is weakened by copyright law. THE YOUTUBE PARADOX: the music industry + YouTube
- 17. CMUinsights.com Meanwhile YouTube has tried to placate rights owners by moving into paid-for content itself – “we can now upsell to our own premium service that will generate you more money”. This was originally going to be a standalone music service, but morphed into the platform-wide YouTube Red. THE YOUTUBE PARADOX: the music industry + YouTube
- 18. CMUinsights.com THE YOUTUBE PARADOX: what is YouTube? a streaming service a promotional platform a publishing platform a media platform a non- commercial licensing platform
- 19. CMUinsights.com THE YOUTUBE PARADOX: meanwhile… Meanwhile, back on YouTube… some people are creators! So it is all about… user-generated content
- 20. CMUinsights.com THE YOUTUBE PARADOX: meet the YouTubers
- 21. CMUinsights.com THE YOUTUBE PARADOX: meet the YouTubers
- 22. CMUinsights.com THE YOUTUBE PARADOX: the YouTube Industry YOUTUBER FAN OTHER PRODUCTS MANAGER/AGENT EVENTS PUBLISHER/PRODUCER ETC MULTI-CHANNEL NETWORK OTHER PLATFORMS BRANDS
- 23. CMUinsights.com THE YOUTUBE PARADOX: YouTubers and the music industry CUSTOMERS OF OUR MUSIC? CHAMPIONS OF OUR MUSIC? FUTURE BUSINESS MODEL? ???
- 25. CMUinsights.com I N S I G H T S