Web3 is taking the reins from Web2. The technology is adapting and the culture is shifting accordingly. A wonderful, wacky new world is taking shape.It’s wild how early we are. We’re going to look back and find many of the current trends laughable.Over the past month, the producers of Board Ape Yacht Club (BAYC) have signed with a major agency (UTA), taken on one of the top music managers in the business (Guy Oseary), and inked a deal with Universal Music for their new “super group,” The Zoo. They’re working with Timbaland, and every celebrity under the sun is jumping on board. I’m impressed with the hustle and blown away by the prices they’re commanding.But as the mania builds, this certainly feels overhyped and overvalued. Has BAYC jumped the shark-ape? If this isn’t one sell-out move after another then I’m not sure what is. Unless these JPEG apes write absolute bangers, it will be the beginning of the end of this brand’s relevance.NFTs, on the other hand, are here to stay. They are the entry point to real use cases for blockchain. But so few of today's ideas will truly blossom with the culture. The get-rich-quick mentality is a losing long-term strategy.Another premature trend is the rise of avatar performances. As the metaverse becomes mainstream and the hyperverse takes shape, many moves don’t make sense yet. Justin Beiber is performing tomorrow as an avatar for WaveXR. I know it’s Beibs, but does anyone really want to see this? I can’t imagine it will actually be cool. From a cultural disruption standpoint, I'm interested, but from a general taste perspective, I’m skeptical. Taking avatar shows outside of the gaming world feels wonky to me. I’d rather see Beiber and Elvis battle virtually on VERZUZ, or something to that effect.That doesn’t mean I’m bearish on livestreaming. I’m bullish! The pandemic opened up Pandora's box and there is no closing it. We’re accelerating into the livestreaming future and I get tickled by the possibilities. It’s going to take a good bit of trial and error, experimentation, partnerships, alliances, and curiosity. Brands have an important seat at the table. Their marketing acumen and budgets may be the Medici’s of this era, more so than the crypto whales & VCs. The artists, platforms, marketers that lead now will unquestionably be well positioned to reap rewards in the not-so-distant future.So, which new lane are you moving into? Don’t say neither ;)
BEATS
Livestreams: Why They Are Here To StayThe music industry has been notoriously slow in its uptake of technology over the years, and since entering this business (with a penchant for digital) around a decade ago, certain bugbears and inefficiencies continue to frustrate me. (Musically)
High Growth Media Markets & the MetaverseThe last two years have certainly been strange. A global pandemic upended the status quo in the media and entertainment industry and accelerated major changes in consumer behavior. (Julia Xu)
Radiohead's Virtual 'Kid A Mnesia' Exhibit is Available November 18thYou'll soon have the chance to visit Radiohead's virtual exhibition. The band and Epic Games are releasing Kid A Mnesia Exhibition for free on November 18th for PS5, Windows PC and Mac. (Engadget)
Adele’s Oprah Interview & Special Is Rumored To Generate $100 MillionThe interview with Oprah Winfrey and a special performance will air on US channel CBS on Sunday night. Insiders tell the outlet that it could generate more than $100million, with Corden’s firm expected to receive a hefty slice of that. (The Jasmine Brand)
Kosha Dillz On Leveling Up After Going Viral With Fat JoeSo, there are many aspects of going viral that I learned this year and even more this past week from going viral for rapping in a Nor’easter with Fat Joe at a Knicks game. “The Fat Joe opportunity was a product of me performing on the street hundreds of times in NYC.” (Celebrity Access)
Starbucks Introduces ‘Taylor’s Version’ Latte as Latest Fast Food PromotionStarbucks teamed up with Swift for ‘Taylor’s Version’ of their caramel latte – and to promote the re-release of her Red album. Starting November 12, Swifties can pick up Taylor Swift’s favorite Starbucks drink – a Grande Caramel Nonfat Latte. Just requesting ‘Taylor’s Latte’ or ‘Taylor’s Version’ will get the order started. (Digital Music News)
DJ Khaled’s Delivery-Only Chicken Wing Restaurant Launches in 30 Cities WorldwideKhaled is collaborating with REEF, an operator of virtual restaurant brands including David Chang’s Fuku, Wendy’s, and 800 Degrees Pizza. REEF and Khaled claim their latest ghost kitchen, Another Wing, is the “largest restaurant launch in history” with locations opening all at once in three continents, including outlets in Paris and Dubai. (Chicago)
Music’s Rosy Fitness Story Hits A Speedbump, As Peloton Reduces Annual Revenue ForecastThe value of the record industry can’t stop growing – not just because of streaming’s proliferation, but also because of music’s integral role in industries such as video gaming and home fitness. There is no brand more associated with home fitness, of course, than Peloton, which paid music rightsholders approximately $35 million across the course of 2020. (Music Business Worldwide)
What’s The Music Industry Doing About Climate Change?The climate emergency is an eye-watering cause for concern in a global music industry powered by carbon emissions. Recent research suggests that live music produces 405,000 tonnes of greenhouse gas emissions in the UK every year, while the average touring DJ emits 35 tonnes of CO2 a year – that’s 17 times higher than the personal carbon allowance. (The Face)
Kanye Says ‘Most Rappers’ Taste Level Ain’t At My Waist Level.’ Neuroscience Says He Might Be RightFrom the moment Kanye West dropped Donda, fans and critics have voiced strong opinions. The neuroscientists at 2021 Midemlab Music Startup finalists Secret Chord Laboratories weigh in. (Hypebot)
The Ubiquity Paradox: Do Far More Of This But Also Do A Lot Less Of ThatIn music, the world of marketing is beginning to feel and behave like another contronym – “resigned” (meaning either having quit or signing up to something again). Acts are expected to be using heavy artillery in some marketing contexts while simultaneously holding down a ceasefire in other marketing contexts. (Music Business Worldwide)
Will ‘Alternative Monetization’ Drive Tomorrow’s Music Creator Economy?The investment that is pouring into music rights has exploded in recent years, hitting $10 billion at the time of writing and set to increase much further. Many rights acquisitions deals have been based on the catalogs of the traditional music industry (writer/publishing and master rights). (Hypebot)
EMPIRE Just Paid a $1M Advance to an Artist in Bitcoin via Cash AppThat seven-figure sum was paid to Atlanta-based artist and cryptocurrency investor Money Man ahead of the release of his new album Blockchain, which is out on Friday (November 12). EMPIRE says its payment to Money Man marks the first advance paid entirely in Bitcoin to an artist, by a record label. (Music Business Worldwide)
Meet Kingship, A New Virtual Group Launched By Universal Label 10:22PM10.22pm is a UMG subsidiary that was set up by Celine Joshua with the initial intention of signing artists, social media influencers and digital media creators with a focus on creating multimedia content. Now, 10:22PM, which UMG refers to as a “next-gen Web3 label”, is getting into the world of non-fungible tokens and virtual artists simultaneously, with the launch of the new group, called KINGSHIP.
Matthew Vaughn Teams With Warner Music For Marv Music LabelThrough a multi-year, worldwide agreement, the newly formed Marv Music label will work with new and established artists to create original music for films as well as standalone soundtrack and film-inspired album releases. (Deadline)
Something Must Change After AstroworldAs anyone who has attended a large festival can tell you, there is so much communal beauty to be found in listening to live music around thousands of other people. But in the same way that a gentle ocean can generate a rip current, there is always a possibility that a massive crowd can become dangerous, and at worst, life-threatening. (Pitchfork)
BYTES
Web3 is the future. As the music industry becomes further involved, I believe it's crucial to actively learn more about the space. Check out this Stitcher podcast that welcomes Jack Spallone, the Head of Crypto at HIFI Labs, to discuss Web3, blockchain, NFTs, and more.
During Adele’s One Night Only concert event, Quentin Brunson asked his girlfriend of seven years, Ashleigh Mann, to marry him. Adele then popped out of the darkness to serenade the newly engaged pair with a rendition of “Make You Feel My Love,” the Bob Dylan song she covered on her first album.
High gas and listing fees have proven to be a barrier for entry for those trying to get involved in the NFT space. However, with the new app Nifty World, consumers can create and mint NFTs quickly and affordably thanks to BLOCKv’s new solution. Learn more about Nifty World, BLOCKv, and the app’s capabilities here.
Check out my new favorite song from Bruno Mars and Anderson .Paak's Silk Sonic.
This week's newsletter was carefully curated by the Nue Agency staff and our editor Rachel Meisner. If you think we missed something this week or have any suggestions/comments for next week's newsletter, let us know!