We reported on the first hearings at the UK Parliamentary enquiry into music streaming’s economics last week. Now Midia Research’s Mark Mulligan and Keith Jopling have weighed in with where they think the opportunity is for the British government to step in.
“Streaming music services are incentivised to drive consumption. What we need are additional models, incentivised to drive fandom,” they wrote. “Streaming is a song economy, and we now need a parallel fan economy… one in which the value resides in the artist-fan relationship. Currently this model is pursued actively in Asia (e.g., Tencent Music in China, K-Pop in Korea) but far less so in the West.” That would require new platforms – and support for existing platforms – that can help artists to build communities of fans even at the 1,000-people level, to fund sustainable careers. And Midia thinks governments, as well as the industry, can help with that.
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