From TikTok to Web3, here are 5 takeaways from Music Matters 2022.
, a former keynote speaker at Music Matters, recently gave the music industry 6 billion reasons to cheer. YouTube, he said in September, had paid $6 billion to the music industry in the year to June 2022, a year-on-year increase of $2 billion. “We want our twin engine of ads and subscriptions to be the No. 1 contributor of revenue to the industry by 2025,” he enthused.Ole Obermann
, global head of music, changed its status. TikTok’s videos might be brief, but the streaming app is keen to make mountains of revenue for its content partners. “TikTok is only three or four years old, depending on which country you’re in,” he said. “YouTube and Spotify, they’ve been around for 12, 15 years or whatever. If you look at where we are now in terms of impact and revenue paid out, relative to where they were when they were three or four years old, I think we’re actually ahead.
He continued, “every artist, every creator has to find their sweet spot with what they want their profile on TikTok to be, and not everyone is going to want to be a really active video poster. Most artists, all artists, should have a verified profile. We should be talking to these artists, our music teams around the world, working with artists to figure out how to get your music more of a presence on TikTok. It is such a big and vibrant way for music to travel.
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