Audible Magic Sponsors MIDiA Research Report on The Rising Power of User-Generated Content
User-generated content will contribute a significant proportion of the growth in music consumption over the next two years in an opportunity that is worth circa $6 billion to the music industry value chain. Rights holders could see $3.2 billion of this in the next two years, as a new report by MIDiA Research in partnership with Audible Magic, has found—with UGC already having contributed over one billion dollars to global music revenues in 2019.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20201026005198/en/
Music-related UGC is a fast-growing and under-commercialised sector with huge future potential. Potential UGC music-related revenues, 2018 – 2022, global (Graphic: Business Wire)
‘The Rising Power of UGC’ report, which is available to download for free here, examines the dramatic and continuing growth of UGC creation and consumption and highlights that this ongoing expansion requires the implementation of new, simpler licensing frameworks, especially for music.
This report also considers some of the implications of the 2019 EU Copyright Directive, which acknowledges the importance of UGC in today’s economy and presents unique opportunities to encourage the growth of the digital streaming market.
The rising power of UGC is reflected by the sharp growth in social media platforms in 2020, totalling 7.7 billion gross users. Lil Nas X’s Old Town Road, as one example, set a new course for music industry marketers by becoming the first clear example of the ‘song as a hashtag’ – turning a song from a TikTok meme into a global smash hit. More than two billion streams later, almost every marketer in the industry is hoping to repeat the song’s success – though not necessarily with a clear blueprint as to how to do that.
Social media and UGC platforms do not respond to traditional licensing structures and as a result, opportunities are being missed. Framing these trends within the poor performance of ad-funded models, the slowing down of subscription revenues and the absence so far of alternative ways to monetise fandom, the report advocates new ways for the industry to approach UGC to become a win-win for technology platforms and content providers. Social media platform advertising revenue, meanwhile, totalled $119 billion in 2019 – a huge addressable market, while in-app purchases and virtual merch are emerging forms of monetisation.
Content owners might well ask “what’s next?” But what's next is already here: social media is the new music consumption; it just isn’t being fully monetised or utilised.
Commenting on the implications of these shifts for content companies, a major label executive said: “It is important for music content owners to start imagining UGC as another format or channel for the delivery of music rather than simply as promotion or audience development.”
Mark Mulligan, MIDiA Research’s managing director said: “As music subscriptions edge towards maturity in many Western markets, the music industry needs new growth drivers. UGC has long been under-monetised for music rights holders but its potential now is bigger than ever.
“We are entering into an era where we are all becoming creators, whether that be editing digital photos, making a lip sync video or even creating a mashup. We are leaning forward and interacting with our content more and more, with more tools at our disposal. Music continues to be the soundtrack to both our lives and to UGC content. We sit on the cusp of the next chapter in music consumption and monetisation.”
About Audible Magic
For more than 20 years, Audible Magic has innovated solutions to identify content, manage rights, and monetize media. Audible Magic’s Emmy-winning automatic content recognition (ACR) technology powers billions of transactions monthly. The Silicon Valley pioneer is the trusted intermediary among rightsholders (including labels, studios, distributors, publishers, and collectives) and major platforms. For more details visit our website: www.audiblemagic.com
About MIDiA Research
MIDiA Research is a market intelligence and consulting firm with longstanding expertise in the business of entertainment and digital media. We help businesses formulate commercially actionable strategy to navigate the evolving digital landscape. Our clients leverage our expertise, proprietary multi-country consumer data and market forecasts to enable smarter and faster decisions. We work with record labels, TV networks, streaming services, tech firms, financial organisations, gaming and sports companies, providing unparalleled insights into trends and innovations shaping the entertainment market and audience behaviours. For more details visit our website: www.midiaresearch.com
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Transphorm’s SuperGaN Gen V FET Delivers World’s Lowest Packaged On-resistance, Targeting Electric Vehicle Applications2.12.2020 12:00:00 CET | Press release
Transphorm Inc. (OTCQB: TGAN)—a pioneer and global supplier of high reliability, high performance gallium nitride (GaN) power conversion products—announced today the sampling of its first Gen V device under its proprietary SuperGaNTM brand. The TP65H015G5WS, Transphorm’s new Gen V device, targets the Electric Vehicle (EV) market and provides industry-leading performance enhancements, ease of designability, and optimized cost structure that is inherent to the SuperGaN device family. Notably, the Company’s Gen V GaN solution offers the world’s lowest packaged on-resistance and delivers a 25% lower power loss over Silicon Carbide (SiC) in a standard TO-247-3 package, strengthening the potential of GaN in the EV power conversion market. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20201202005276/en/ Lowest Rds(on) SuperGaN™ FET in a TO-247 package from Transphorm poised for growth in EV market. (Graphic: Business Wire) In March
Curo Fund Services Goes Live With SmartStream’s Post Trade Processing Solution2.12.2020 10:00:00 CET | Press release
SmartStream Technologies, the financial Transaction Lifecycle Management (TLM®) solutions provider, today announced that Curo Fund Services in South Africa, has gone live with TLM Aurora Trade Process Control - consolidating infrastructures across asset classes and business lines, ensuring all trade processing, proactive executions management, through to settlement, are based on verified data - enhancing cost efficiencies and regulatory compliance. Curo Fund Services required a solution to further control and provide visibility of its trade processing requirements and to replace multiple silos for a structured end-to-end solution. SmartStream’s TLM Aurora Trade Process Control will support the entire transaction lifecycle from the point of deal capture through to allocation, confirmation and settlement. By introducing greater automation and enhancing control, the product will assist in lowering operational risk and cost, as well as managing market volatility and meeting buy-side regula
ADVA recognized as an Intel Network Builders Winners’ Circle Leaders Board partner2.12.2020 09:00:00 CET | Press release
ADVA (FSE: ADV) today announced that it has been awarded Leaders Board status in the Intel Network Builders Winners’ Circle for the second year running. The accolade recognizes the value of ADVA’s Ensemble Connector, a carrier-class NFV platform widely deployed in service provider and enterprise networks across the world. As a verified Intel Select Solution for uCPE, Ensemble Connector offers customers several key benefits, including platform security, zero-touch provisioning and access to the market’s widest library of virtual network functions. Pre-integrated with Intel Xeon D processors, Ensemble Connector provides an optimized and ready-to-deploy hardware-software solution. “We’re delighted to once again be on the Leaders Board of the Intel Network Builders Winners’ Circle. Being recognized for outstanding innovation highlights the extraordinary progress we’ve made with virtualization deployments in live networks,” said James Buchanan, GM, Edge Cloud, ADVA. “As an open platform for
Global Bubble Tea Brand Investing Aggressively in Europe Expansion2.12.2020 09:00:00 CET | Press release
Gong cha, one of the world’s most recognized Taiwanese tea brands, today announced that it is actively seeking additional franchisees across Europe. The company is aggressively seeking to further grow its presence as part of a broader global expansion. A staple throughout Asia with a loyal following since the 1980s, Gong cha bubble tea has become a daily treat for in-the-know consumers across the world. According to Allied Market Research, the European bubble tea market is over $300 million in size and growing at 9% per year. With relatively low investment to open new stores and an attractive business model, Gong cha franchisees have thrived. The company employs a mostly take-out model, offering bubble tea through delivery as well as in-store pickup. Despite the global pandemic, new stores have continued to open around the world, including a new store in Liverpool, England. Gong cha now has stores in 19 countries with over 1,300 locations. Recently acquired by TA Associates, a leading
Towerco Valocîme uses Sitetracker to gain operational efficiency and enable the more fair Towerco business model of Valocîme in France and Europe2.12.2020 08:00:00 CET | Press release
Sitetracker, the global standard for managing high-volume projects for infrastructure owners and operators like Ericsson, British Telecom, Vertical Bridge, and Vodafone/Vantage Towers, is proud to announce their partnership with Towerco Valocîme, an innovative Tower company in France. The current distribution of the telecoms value chain is strongly unbalanced in favor of towercos. The purpose of Towerco Valocîme's offers is to rebalance in favor of owners and operators. At the end of 2019, more than 1,000 landlords had signed the Towerco Valocîme offers allowing them to increase their income significantly. In 2020, Towerco Valocîme has launched its operator offers to reduce their hosting costs and thus increase their average operating income per site. “We have created a fair and simple model for towers in France,” said Frédéric Zimer, CEO of Towerco Valocîme. He continued, “We have thousands of landlords and now we are bringing in operators. The key to maintaining our margins is operat
Deenova Bolsters Its 2020 Market Momentum in Pharmacy Automation With Entry Into Poland2.12.2020 08:00:00 CET | Press release
Deenova announced today that in continuing its meteoric 2020 business boom, it made its first foray into Eastern Europe with new contracts for delivery of its market leading pharmacy robots and related technologies to Greater Poland Children's Health Centre in Poznań, with Polish leading equipment company MEDIM in Piaseczno. Piotr Młynarczyk, MEDIM General Manager, stated: “After a long search on a competitive sales process that thoroughly searched all options for pharmacy unit dose robots, I am very proud to select Deenova for partnership in the project at Greater Poland Children's Health Centre in Poznań. We chose Deenova solutions, mainly because of their unique technology and business approach to R.O.I.” Christophe Jaffuel, Deenova Chief Commercial Officer, added: “I am extremely excited to have been selected by Greater Poland Children's Health Centre in Poznań, and Poland medical technology leader MEDIM, especially after their extensive experience comparing and contrasting Deenova
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.Visit our pressroom