Over the past century, technological advancements have massively reduced the cost and time needed to create and circulate content. Though this has liberated artists, consumers are now drowning in a virtually infinite supply of things to watch, listen to and read. The answer to a world where attention is the key constraint, not capital or distribution, isn’t Big Media – it’s the Influencer Curator. ... the next evolution in the media value chain will be the rise of decentralized curation – with individual tastemakers building up mass followings and driving enormous consumption by recommending various articles, videos, shows, films, albums, exhibits and so on. While there’s no way to effectively do this at scale today, the transition is long in development.
Amid a slow growth in royalty payouts, Spotify is investing in a range of projects aimed at keeping artists happy, mostly by leveraging the company’s huge goldmine of listener data. The effort includes new metrics tools for musicians, steadily improving fan targeting, and a range of curated and algorithmic playlists to help artists reach new listeners. ... Spotify’s artist-focused initiatives aren’t sheer acts of generosity, of course: They also have a direct bearing on the company’s future success as a business. The Stockholm-based firm, last valued at $8 billion in 2015, boasts 50 million paying subscribers but steep losses ever since it was founded a decade ago. And the competition, which increasingly comes from tech giants like Apple, Google, and Amazon, is fierce. ... The more indispensable Spotify becomes to creatives, the stronger its leverage in negotiations with record labels. The company is currently in the long-awaited process of renegotiating deals with labels and rights holders, who are anxious for better terms. But like every other streaming platform, it’s eager to shift the basic math of the new music economy further in its own favor