In the past decade there have been drastic changes in the way consumers listen and discover music. Although streaming continues to grow in dominance, social media is quickly becoming the latest outlet for music discovery and consumption. Social networks like Facebook, Twitter, Instagram and Snapchat are designed to provide exposure for artists as well as a direct channel to connect with their fans around the world. Music adds indelible value to all digital services, delivering a more interactive and engaging space for users and followers. While this benefits both the consumer and the social platforms, this presents a challenge in establishing a fair and profitable music marketplace.
Can social media be more than just a means for artists to connect with their fans? What if features that incorporate music like Facebook Live and Snapchat's Discover page, also provided a revenue stream for music creators? With new platforms constantly emerging it is vital that songwriters and artists are properly acknowledged and compensated for the invaluable piece they provide to the puzzle. Do digital executives appreciate the value that music brings to their platforms? Do they understand the need to obtain a digital music license and how it helps the songwriters? Shouldn't songwriters and artists receive compensation, allowing them to generate a steady revenue stream? Music licenses can bridge this value gap and propel the music industry further into the digital age. This panel will raise these questions and more about fair compensation and the marketplace dynamics.
A panel of experts including representatives from all aspects of the music and tech industries will tackle these issues and provide insight from both the economic and creative perspectives.
