In this episode, Pete and BeX discuss different ways artists and bands can keep proactive during the pandemic. We look at the live sector and how this has been affected since the Covid-19 outbreak. So we look at time management, and how to use the time wisely to plan and maximise online activity, websites, social media, marketing, online concerts/streaming, creating new content, as people all over the world are consuming much more music and content on various platforms. So it's important to stay active online and keep creating content to share with the world!
Over the past 12 months, the music industry has been hit very hard by coronavirus with live performance revenue the biggest casualty so far, with the loss of all concerts and festivals. The global music industry is worth over $50 billion, with two major income streams. The first is live music, which makes up over 50% of total revenues and is derived mostly from ticket sales from live shows.
The second, recorded music, combines revenue from streaming, digital downloads, physical sales, and synchronization revenues (licensing of music for movies, games, TV, and advertising). This shows a twelve-month shutdown is believed to cost the music industry more than $10bn in sponsorships, with even longer delays expected being for the live sector. But, the industry as ever is fighting back with new ways to monetize music consumption: For example; Fortnite hosted a live rap concert that attracted up to 30+ million live viewers, now that is impressive!
Looking to the long-term, the main core value chain of the music industry is likely to remain largely unchanged. Professional artists release music via the big record labels — UMG, Sony Music, or Warner Music — or alternatively through an independent publisher and label!.

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(Podcast created by Peter Moore & BeX Gregory at Seamless Entertainment)

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The background music was written & produced by BeX & Alan Glass. (Seamless Music productions)
Podcast engineered & mixed by BeX Gregory.

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