It was all good four weeks ago, or at least it seemed. Now nearly a month into quarantine, NYC feels like the belly of the beast.I’m keeping my eyes and ears open, surveying what’s happening online like a cultural anthropologist. We’re all hopeful the world will re-open by summer, but we can’t be sure. I’m seeing new events and bookings pop up for August. Will the show go on in 2020? I can’t call it.COVID-19 has taken a massive toll on our society with uncertainties and disappointments piling up day after day. The music business is clearly not immune.The government relief package — the largest of its kind in American history — includes a bundle of programs assisting small businesses, contractors, and unemployed workers. Despite many progressive victories in the deal, it doesn’t feel like it’s going to be a huge help to artists or the rest of the industry’s 99%. As powerful a connector as music is, the entertainment industry isn’t exactly atop the government’s list for essential intervention.So how will the industry handle the coming recession?My colleague Clay Durant and I batted around some ideas over the weekend and penned an article that addresses this question in detail. More on that soon.The topline takeaways are:
Doubling down on recorded music by leaning on advertisers: although brand spending is way down at the moment, brand partnerships will play a big role in helping the music industry bounce back from this.
Greater consolidation: we realize it’s harder than ever to survive as an indie and, sadly, we predict more consolidation as the big companies with cash flow are well-positioned to snatch up boutique players and bring their specializations in-house.
Encouraging the private sector to invest further in music: the downturn is a great opportunity to not only support the arts but to encourage innovation and pump VC dollars into the music-tech space.
Embracing new technologies that will connect us virtually: the revolution is being live-streamed and new formats are starting to flourish with stadium-sized crowds. This is only the beginning.
Using downtime to create: fresh music, especially “hits,” are the lifeblood of this business. What’s written during the bear will become the backbone of the bull. There will be no shortage of breakout art and talent once things get under control.
BEATS
Spotify’s Covid-19 Music Relief Page Makes It Easy To Donate To ArtistsSeveral streaming giants have pledged to contribute to the MusiCares' COVID-19 Relief Fund, entertainers have pivoted and platforms like Bandsintown and Twitch are helping artists make money via streaming. Now, Spotify wants to make it easier for everyone to donate to the organizations supporting the music community. (Engadget)
Live Shows Are Canceled—More Virtual Reality Concerts Are ComingIn a matter of weeks, Coachella was delayed, SXSW was canceled, Live Nation suspended its world tours, and now many small venues are on the verge of collapse due to indefinite closures. As a result, artists are forced to explore new ways to earn money and connect with fans who are now confined to their homes. (Complex)
Red Light Management Gaming Subsidiary HIT COMMAND Gives Back To The Music Industry With An EDM Festival Hosted On Their Twitch ChannelWith some of our biggest concerts, festivals and conferences closed, fans & listeners worldwide are looking to the internet for their immediate source of entertainment. Red Light Management launched their gaming subsidiary HIT COMMAND in early January (Present PR)
Here Are All the Live Streams & Virtual Concerts to Watch During Coronavirus Crisis (Updating)Check out our ever-expanding list of shows and musical events to stream from the comfort of your home. (Billboard)
‘Pajama Entertainment,’ The Newest Cultural Shift Of The Coronavirus EraWith most film and television production halted, purveyors of entertainment have had to find fresh ways to create and distribute their work. They’ve come up with what might be called pajama entertainment — creations that take the same casual at-home vibe many Americans are feeling and channel it into the product, joltingly reversing a modern trend. (Washington Post)
Universal Music Group Announces Coronavirus-Relief InitiativesUniversal Music Group today announced several initiatives to bring relief to musicians, its employees and the music industry in the wake of the coronavirus pandemic that in a short time has devastated so much of the global economy. It also pledged to assist its artists in their charitable efforts. (Variety)
Watching Your Favorite Musicians Play Shows From Their Bedrooms Is Pretty GreatIn the age of self-quarantine, this dynamic has changed. I still want the live music experience. I still crave that feeling of connecting to an artist whose music means something to me. I still want to share in the joy of creation, of something happening in real time. (Texas Monthly)
The Creation and the Myth of Kanye West“I’m Kanye West,” says the rapper-provocateur. “The word ‘ambitious’ is beneath my abilities.” As West leans into a rebooted life of fashion design and gospel music, Christina Binkley explores his new cast of characters, his thwarted dreams, his acknowledged stumbles and his bigger-than-ever plans. (Wall Street Journal)
How Artists Can Stay Afloat — and Find New Opportunities— Amid the Coronavirus CrisisArtists feeling momentarily desperate shouldn’t rush to give up a revenue stream that could provide financial security for decades to come. “I wouldn’t jump to any conclusions,” says Dan Weisman, an AllianceBernstein vp and former artist manager. (Billboard)
Fox, iHeart Execs Reveal Secrets Behind ‘Living Room Concert’ PerformancesAs recently as last Tuesday, just three artists had signed on to “Fox Presents the iHeart Living Room Concert for America.” But after a week of scrambling and all-night editing sessions, the producers and executives behind the special managed to put together a one-hour event on Sunday night that attracted at least 8.7 million viewers across multiple networks, and has so far raised more than $8 million. (Variety)
BYTES
My friends Yelda and Keshia, founders of global women’s movement Camel Assembly, launched their podcast! They’ve built communities in Los Angeles, Mumbai, Nairobi and more dynamic cities: diversity really is in their DNA and @camelassembly's also. Cannot wait to hear from the incredible womxn who make up their community. They sit with Christina Coleman & Flo Ngala to discuss which senses they use most to listen when it comes to their art and activism.
If you're in Quarantine right now, this message is for you. Prince Ea shares a song with a powerful message about the global pandemic.
Houseparty is truly the next best thing to hanging out in person. The app makes connecting face to face effortless, alerting you when your friends are “in the house” and ready to chat so you can jump right into the conversation.Let's party: @JesseK3000
Relive the the flyest virtual party with this playlist inspired by the talented DJ himself, D-Nice.
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!