May 2020 Industry Wrap-Up

May 28, 2020

By Kevin Cornell

May moved a bit slower than usual since we’re all still locked down, but that didn’t stop the music industry from moving. TuneCore is doing our best to provide helpful, pragmatic, and hopeful content during this pandemic. While COVID-19 has no doubt impacted the music industry and artists alike, we’re continuing our monthly column of hand-picked articles across the web that you might have missed.

YouTube Launches ‘Select’ Advertising Tier 
Last month, YouTube dropped news of a new, premium tier of advertising for brands, giving advertisers a more “curated, higher quality selection of creators and publishers.” While it remains to be seen how this will impact creators and how they can monetize videos, it’s worth keeping an eye on if YouTube is a major part of your current strategy as an artist. Read more here.

Meaningful Lift Seen in Follower Growth for Live Streaming Artists
Chartmetric has been offering an ongoing analysis of COVID-19’s impact on the music industry, driven, unsurprisingly, by data. In its latest, the platform offers key takeaways on how the rise of live streaming during quarantine has impacted artists – and it’s overall pretty positive! We’ve covered live streaming during quarantine a lot here on the TuneCore Blog, but if you are still feeling hesitant, give it a look. Read more here.

JioSaavn Subscribers Get ‘Pro Rewards’
In an effort to make paid subscriptions to one of India’s hottest music apps, JioSaavn has begun offering ‘Pro Rewards’. Benefits include free access to live streamed yoga classes and discounts on e-health services. The company has partnered with service providers to set themselves apart in terms of what users get beyond ad-free music. Read more here.

Facebook Betas New ‘Collab’ App for Creators & Fans
A new music-centric feature from Facebook’s apps team was dropped into beta (invite-only) last month. It’s called Collab and its messaging references the distance we’re all feeling during quarantine. The app allows users to sync three independent videos, allowing folks to collaborate and work on a single composition together. Read more here.

Instagram To Begin Sharing Revenue With Creators
You read that correctly! Instagram announced in May that it’d begin developing a badge system allowing creators to monetize their content via their viewers, and there’s a plan being rolled out for advertising on IGTV. “Overall, Instagram is trying to take a bigger stake in how creators make money on its platform”. Read more here.

Sound Diplomacy Reveals #BetterMusicCities Report
A new report put out by Sound DIplomacy aims to provide a “comprehensive guide and nine point plan for recovery” called the Music Cities Resilience Handbook. All over the world, music industry businesses in cities that have thrived on the cultural heartbeat of their population are wondering what their recovery will look like. This one is worth a download! Read more here.

The Innovation Behind Planning For More Live Streamed Music Events
Our friends at did a great dive into the artists and tech firms that are exploring the possibilities that lie in the future of live streamed music events. Lesser known firms like MelodyVR are building studios while behemoths like Microsoft unveil initiatives like ‘RE:Surface’. Give it a read if you’re itching to get back on stage. Read more here.

IFPI Reports an 8.2% Increase In Global Music Market
The IFPI published its annual report, and as always, we’re here to remind independent artists all about it. While these are high level figures, independent creators who are looking to bolster their music career are wise to keep this kind of news in mind. Some numbers that jump out at us include a $20.2 billion increase in revenue worldwide, with streaming revenue specifically growing at a rate of almost 23%. Read more here.

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