The Monetization of Music Has Fallen to the Abyss but There’s a Solution

What we know for sure is that bands make money on long tours, for several months in a row, in order to make some profit with the number of performances, then with performances at big festivals, most often under the condition that they are headliners.

This all has decreased recently for two reasons: a dominance of streaming music and coronavirus pandemic. The sale of physical releases is drastically dropped as well as merchandise sales.

Now Is the Right Time to Come up With a New Hit

The music scene came into this year full of enthusiasm but, in the first three months, the whole world was faced with a challenge that it doesn’t handle the best way and which, in addition to the obvious tragic consequences reflected in the number of infected and dead, carries others that affect economies of all countries of the world.

And that’s directly reflected in the music industry. Of course, there are no concerts, the tours have been stopped, and festivals are canceled.

In this time when the music industry is on hold, musicians should perhaps try to think of ways to come out of this crisis with hits that will rock the charts. An interactive chart showcasing the 20 songs that have spent the most time at the top in 22 countries covered by this unique research in the last decade can serve as a guideline.

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Chart-toppers are described in this interactive chart with characteristics that determined their success. For example, songs that are intense in energy have the most chances to skyrocket a chart in Spain. Measured on the scale from 1 to 100,

an average energetic value (“energy” represents a perceptual measure of intensity and activity, while these types of tracks feel fast, loud, and noisy) of the songs at No.1 in this country was 81. To make a hit in Japan, your track has to have an energetic value of 80. Other countries to follow are Brazil (76), Argentina (75), and Italy (71).

Online Concerts

Although the crisis caused by the virus is getting weaker, the borders are slowly opening, people are starting to live again, and countries are recovering, this problem at the core of the industry remains, asking the question: What now? Over the past few months, we’ve had the opportunity to see how the bands have coped and adapted to the new situation, and we stress one of those ways that turned to be successful.

Online concerts have proven to be, at least temporarily, the most logical solution. We know – you can also play a concert on YouTube for free. But it’s not the same. A concert on the screen isn’t a live concert. There’s no crowd, no jumping, singing together, an exchange of positive energy and not-so-positive smells due to several hours of jumping, there’s no favorite musician in front of you… we know that.

However, after a few very good examples, it turned out that this system works to the mutual satisfaction: Some bands recently held very successful concerts where there were several thousands of people live, leaving the opportunity for people to buy a ticket and watch the concerts afterward.

Online concert tickets had a symbolic price, which is much less than they would cost for live performance, while the costs were reduced and the earnings have provided the bands and teams around the bands with a livelihood during this non-concert season. The downside of this is that you can’t do an online concert every month. That is, you can, but with incomparably worse results.

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