Can one tweet really do that much damage?That’s what everyone was asking last week when Kylie Jenner took to Twitter to question the viability of Snapchat, the very platform that was core to her rise to celebrity status. Following her comments, Snap Inc.’s stock dipped, shedding more than $1.3 billion in valuation in a matter of hours.While there are larger trends at play with regard to Snapchat’s financials—we don’t give Kylie all the credit this time—the incident did open up a conversation on the power that influencers hold with regard to the continued relevance of social platforms in culture.In many ways, influencers are the new brands. More specifically, artists are adopting this mindset by expanding their empires beyond music to truly cement themselves as forces within lifestyle and commerce.Look no further than the explosive growth Rihanna’s Fenty Beauty line for evidence of this trend. (Oh, and by the way, Fenty is on pace to outsell Kylie Cosmetics by 5X.)So, what does this mean for brands and marketers? Aligning with artists and labels isn’t as linear of a process as a used to be. Artists are more multifaceted than ever before. They have their own brands that can often extend far beyond music—which creates a huge opportunity for attaining relevance in culture.My advice to marketers: Look at musicians as the ultimate influencers: influencers with tangible talents; influencers with passionate fan bases; and influencers who carry their own cultural currency.I will be speaking on this topic at the upcoming Digital Hollywood Media Summit here in NYC on March 7 and 8. I would love to see you there!
BEATS
In One Tweet, Kylie Jenner Wiped Out $1.3 Billion of Snap’s Market ValueShares of the Snapchat parent company sank 6.1 percent on Thursday, wiping out $1.3 billion in market value, on the heels of a tweet on Wednesday from Kylie Jenner, who said she doesn’t open the app anymore. Whether it’s the demands of her newfound motherhood, or the recent app redesign, the testament drew similar replies from her 24.5 million followers. Wall Street analysts too have begun to notice, citing recent user engagement trends noticed since the platform’s redesign. (Justina Vasquez – Bloomberg)
Spotify Can Justify Valuation By Becoming Netflix of MusicSpotify, the Swedish-based music streaming company, is expected to go public at some point before the end of the first quarter with an estimated valuation of nearly $20 billion. In a twist, it will shun the IPO route, bypassing high-priced investment bankers, and instead pursue a direct listing, which enables company insiders to offer their shares for sale on a public exchange. (Ross Gerber – Forbes)
Swizz Beatz Discusses Cultural Capital And The Power Shift Between Brands And Creators In an era of entrepreneurship, driven by cross-disciplinary creators building enterprises and designing the careers they want, cultural capital is becoming more valuable than a dollar. As a result, the exchange rate on influence is eclipsing the value of physical currency. (Julian Mitchell – Forbes)
Splice Acquires Remix Platform Pioneer Indaba: ExclusiveThe cloud-based music creation and collaboration tool Splice, famous for giving users signature sound packs designed by various electronic artists, has acquired Indaba, an online community that gives music makers the space they need to collaborate digitally, famous for its work with high-profile artists and brands on official remix contests and licensing opportunities. (Kat Bein – Billboard)
Chinese Rappers Speculate on China’s Hip-Hop BanThe motives behind the legislation are not yet made clear, but most assumptions have been similar. “From the government’s perspective, these rappers were quickly becoming major pop celebrities, and celebrities at that level are supposed to self-censor and be good role models, upholding Chinese values.” Marcus Rowland, head of A&R for the Beijing-based music-services company Outdustry, told Billboard in an interview. “This ban is the government saying what most of us always knew: that the government sees hip-hop as part of low-level society and not appropriate for mainstream audiences.” (Hypebeast)
Morris has discussed his plan with Apple Music executives recently, though Apple -- which makes marketing deals with labels and artists -- would not own a stake in the label, sources tell Billboard. (Hannah Karp – Billboard)
memBrain: The Storm Report The STORM Report is a compilation of up-and-coming bands and artists who are worth watching. Only those showing the most promising potential for future commercial success make it onto our monthly list. (memBrain)
BYTES
The best-selling author teaches Cal how to think like a marketer.
Janelle Monae is officially back, dropping not one but two songs last week. The singer released "Django Jane" and the Prince-inspired track, "Make Me Feel" on Thursday along with powerful corresponding visuals for each.
Record a high-quality podcast, host unlimited episodes, and distribute everywhere with just one click. Plus, it’s 100% free.
Electro-Pop group, Little Dragon make their return with a new song and tour dates announcement.
This week's newsletter was carefully curated by the Nue Agency staff and our editor Maria Tejada If you think we missed something this week or have any suggestions/comments for next week's newsletter, let us know!