Music Business Tips for LIVE Streaming Performance for Exposure

Once streaming services were born, the music industry has undergone a significant transformation. This blog will focus on the rise of streaming services, the effects on the music industry, and how it has changed the dynamics for artists, record labels, and music consumers. According to IFPI’s Industry data research, engagement with streaming pushes growth for artists in the global music market.

“Digital revenues have increased steadily over the past few years, and streaming continued to be the dominant format globally, accounting for 67.0% of global recorded music revenues after increasing by 11.5% in 2022. By the end of that year, there were 589 million users of paid subscription accounts globally.”

Streaming music provides accessibility and convenience for the consumer and revenue and monetization opportunities for the artists. The digital delivery system allows music industry professionals to analyze the data to make decisions for business and marketing through music streaming apps. Although this is convenient, we recommend the artist or their management team keep up with the latest research on platforms to make sound decisions for music streaming distribution. For example, Duetti’s Inaugural Report states that in 2023, Spotify has reduced the industry-wide streaming rates for independent artists for various reasons.

The global music app market reaches listeners where artists’ music would not have been able to without it. The discoverability of their music increases significantly with streaming. The direct-to-fan model allows democratizers of the digital age to flourish, as described on MusicBusinessWorldwide.com in an article titled, “As Artists Reach $100M in Direct-to-Fan Sales via Bandzoogle, the Company Says it’s ‘Solely Focuses on Putting More Money in the Pocket of Creators’” In a digital platform with wide-reach, this naturally leads to new collaboration opportunities for artists to work together to share their audiences with the same tastes in music.

Understanding the Popularity of Livestreaming Music

Livestreaming is becoming an increasingly popular way for up-and-coming music artists to gain visibility and recognition in the industry. Live performances on platforms such as Instagram, Twitch, and YouTube are allowing unsigned artists to access a larger audience than they could attain through traditional promotion methods. Furthermore, visuals and comments exchanged during these livestreams facilitate wide-reaching conversations and create more meaningful connections with fans. In this way, livestreaming has become an invaluable tool to catalyze an artist’s success even before a label has the chance to sign them—allowing them the opportunity to prove their worth first.

Benefits of Livestreaming for Artists

Livestreaming is a great way for independent artists to launch their music and make a name for themselves without having to sign with a label first. A well-executed livestream musical performance can catapult an artist into the foreground of the industry, getting them noticed by big names, distributors, promoters, and labels. Livestream events can attract thousands of virtual viewers with just one click, allowing indie artists to receive instant feedback and create connections with fans from around the world. Additionally, hosting livestream shows allows artists to receive funding directly from those watching in the form of subscription fees or donations – often resulting in greater financial support than many record labels currently provide their talent.

1. Accessibility and Convenience

Streaming services have revolutionized how we consume music by providing instant access to a vast library of songs. Gone are the days of physical albums or even digital downloads. With just a few taps on our smartphones, we can now listen to our favorite songs anytime, anywhere. This accessibility and convenience have opened up new opportunities for established and emerging artists to reach a global audience.

2. Revenue and Monetization

While streaming services have made music more accessible, they have also raised concerns about fair compensation for artists. In 2024, we see a shift towards more equitable revenue models, with streaming platforms working on improving royalty rates and exploring alternative monetization strategies. Artists can leverage streaming platforms for exposure and generate revenue through playlist placements, brand partnerships, and live performances.

Read about why diversifying which platforms artists build their communities as things can change overnight.

3. Data and Analytics

Streaming services have become a treasure trove of data for the music industry. In 2024, record labels and artists are utilizing advanced analytics to gain insights into listener preferences, demographics, and trends. This data-driven approach helps with informed decision-making for marketing strategies, tour planning, and songwriting. Artists can better understand their audience and tailor their music content to meet their expectations.

4. Discoverability and Independent Artists

Streaming services have leveled the playing field for independent artists, allowing them to bypass traditional gatekeepers and connect directly with their audience. In 2024, we see a surge in independent artists gaining recognition and success through streaming platforms. With the right marketing strategies and an online presence, independent artists can build a loyal fan base and even secure record deals based on their streaming success.

5. Collaborations and Crossover

Streaming services have facilitated collaborations and crossovers between artists from different genres and backgrounds. In recent years, we have witnessed a growing trend of artists coming together to create unique and innovative music that transcends traditional boundaries. This cross-pollination of genres enriches the music landscape and gives listeners various options to explore through music streaming apps.

While there are challenges to face, such as fair compensation and artist discovery, the overall impact has been positive. Artists now have unprecedented access to a global audience, and music consumers enjoy the convenience and variety that streaming services offer. It will be exciting to see how the music industry continues to evolve in this digital age in the coming years.

Keys to Creating a Successful Livestream

Livestreams are playing an increasingly important role for musicians who want to build their fanbase before approaching a record label. One key part of creating a successful livestream is to make sure the shows are frequent and that each show has something unique or special about it that viewers can look forward to. Setting realistic expectations is also important; this means being realistic about viewership before factoring in additional promotional activities, such as through social media or streaming services. It’s also important to communicate with fans, both before and after the performances, so they can give feedback and help shape the shows going forward. Amazingly planned livestreams can bring vast exposure, build deep relationships within the fanbase, and establish credibility within industry circles – all factors that will help persuade a potential record deal and make it much easier for an artist to break out into stardom!

How to Reach Your Audience with an Engaging Livestream Show

Crafting a successful career before being signed to a label requires more than honing in on your own performance skills. It also requires networking, social media engagement, and innovative thinking. To keep up with the ever-changing landscape of the music industry, aspiring artists need to take their success into their own hands by strategizing their livestream shows to capture the attention of potential audiences. An engaging livestream may include creative crowd-teasing techniques such as revealing snippets of an upcoming single or trendsetting playlists that are tailored based on audience feedback after each show. Aspiring artists should make sure they’re ready with the proper marketing materials in order to maximize viewers and continue growing their loyal following.

Strategies for Promoting Your Livestreams

As an independent artist, promoting your livestreams can be hard. But it is possible – with the right PR strategies in place! Invest in marketing and get the word out there regarding what you’re doing and when you’ll be streaming. Promote constantly, through multiple outlets – journalists, influencers, and even friends and family can help spread the news about your live-streaming show. You want potential viewers to see that excitement and enthusiasm for what you’re doing, as this will pique their interest. Once you start getting traction in terms of numbers from your stream, crowd-sourcing websites like Patreon or Ko-fi can be great ways to professionalize your brand and secure additional income for long-term success. Investing in yourself can often result in others investing in you.

Tips for Growing Your Audience Through Livestreaming Music

Livestreaming can be a great way for an artist to grow their audience and impress potential labels. To maximize success, start by getting clear on your goals and strategy beforehand. Once you have a plan in place, make sure that you have a strong internet connection and the proper equipment. It’s also important to remain true to your artist brand and share your personality with the viewers while livestreaming – find meaningful ways to engage people in the chat and make them feel welcome.

Livestreaming music has opened up a new creative pathway for indie artists. Artists now have the opportunity to make more of an impact with their music without needing a label to sign them first. To reach your audience and create a successful livestream, musicians should promote well in advance of the event, invest in quality streaming equipment and be sure to interact with fans. Additionally, developing an online brand identity can help foster relationships by setting clear expectations with listeners. Having a manageable process for promotion and livestreams will ensure that each show is successful as they grow it’s fanbase over time. By putting these strategies in place, indie artists have the potential to build a powerful connection prior to ever stepping into a recording studio or being signed by management or labels.