Takeaway Extravaganza!
Tencent Troubles, Kayne Discord, Festival NFTs, Spotify Mood Tracking
It’s the end of summer and time for a bit of a break. We’ll be back next week with an enlightening convo with a producer who sold his publishing on the blockchain (sorta).
In the meantime, R.I.P. to Lee “Scratch” Perry. Check out this clip of the dub music titan remixing Bob Marley’s “Punky Reggae Party” from the 2013 doc, Legend Remixed, which was directed by Kevin Kerslake (with The Cadence’s own Chris Monaco as an executive producer).
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TAKEAWAYS
Salient statements from this week’s music news.
1. How Tencent Music's Problems Ripple Through the Business Worldwide
The increasingly globalized music biz has to navigate some unfamiliar political waters.
Takeaway: What happens in China echoes from Stockholm to Los Angeles. Tencent Music's share price, which hit an all-time high on March 23, fell a whopping 74.6% as of Aug. 23, wiping out $40.1 billion of market capitalization. Among its major shareholders is Spotify.
2. How a Kanye West Fan Discord Played a Role in the ‘Donda’ Creative Process
Could well-organized fan communities replace traditional A&R entirely?
Takeaway: The community is currently overseen by a dozen moderators on the subreddit, around 20 people who help with the Discord, and three people who run the Twitter account.
3. Spotify’s Podcast Subscriptions Is Now Open to All US Creators
Variable pricing and listener-specific data are two things musicians have been requesting for years.
Takeaway: Spotify will now offer podcast creators the ability to download a list of contact addresses for their subscribers. This allows them to further engage with their subscriber base to offer them more benefits, the company notes.
4. IHeartMedia Plans NFT Giveaway Ahead Of Major Music Festival
Are NFTs the next “ask” that artists will have to accommodate?
Takeaway: Although the companies didn’t specify which artists included their signatures in the NFT collection, the festival includes performances from Billie Eilish, Coldplay, J. Cole, Khalid, Maroon 5 and many others.
5. What Our Spotify Playlists Reveal About The Emotional Nature Of Financial Markets
As always, the actual value is in the data.
Takeaway: Spotify listening data have been shown to predict consumer confidence more accurately than standard consumer confidence surveys.
6. 'The Velvet Underground' Is Ready for Their Closeup in New Documentary Trailer
Not only is this exciting, but how did a VU doc not exist already!?!?!
Takeaway: Haynes has also uncovered never-before-seen performances, recordings, and experimental art from the band's contemporaries.