A digital world in which musicians can monetize their music in a variety of ways is gradually emerging in bits and pieces. Lots of promising developments are occurring in music ecommerce including TuneCore’s YouTube Money, GeoRiot’s Relative Conversion Score (whose effects are visualized in image at left), Indiegogo’s integration of Apple Pay, Bandcamp’s new video player and subscription experiments and Twitter’s audio cards with buy links. Hopefully these incremental improvements will help move you closer to the mo’ money to go with all those problems!
TuneCore used to use INDmusic to help its artists monetize music via YouTube’s Content ID system. At some point that relationship ended and TuneCore launched YouTube Money. This service allows TuneCore artists the opportunity to monetize their music through YouTube’s advertising on their own and on other’s videos where their music is identified.
GeoRiot this week introduced it’s new “Relative Conversion Score” that they describe as a “value that we’ve added to all of our iTunes reporting in the GeoRiot dashboard to help you find which aspects of your marketing work great and which ones aren’t doing so well.”
Now you’ll be able to figure out which of the channels on which you promote your music, including your website, social media accounts and email newsletters, are leading to actual sales of your music. It might be small data now but one day…!
Indiegogo is early to the integration of Apple’s new Apple Pay payment system. It’s now available in their iOS 6 app.
Bandcamp recently introduced a groovy, embeddable video player. The embeddable version includes a buy link for your music.
Hypebot points to this Bandcamp artist profile for an example of a new subscription feature they’re said to be testing. This particular example offers an annual subscription at £20 (currently around $32.22 US) for everything the artist offers to subscribers.
Other than being a subscription service, it’s rather different from Patreon in which supporters pledge for each individual project completed, for example, Jack Conte is supported per music video with no specific time element.
But it is an interesting experiment worth watching.
Twitter recently introduced a new audio card launching with SoundCloud as its first partner. iTunes soon followed and now you can post links to your music on SoundCloud and iTunes and your followers can check it out right there and respond to presale and buy links.