Live music generates more than $20 billion in global revenue every year. But why are so many musicians still struggling on the road, and at what point do they turn a profit?
I don't have much to say other than to recommend Hoodie Allen's great read on the topic here.
Yesterday, Hypebot announced that digital jukebox platform TouchTunes would be merging with in-store music provider PlayNetwork. Background music isn't historically sexy, but the multi-billion dollar discovery platform can no longer be ignored.
Super Bowl ad spend is at an all-time high, at $5 million per 30-second national spot. That doesn't include the cost of production and digital marketing, which can cost an additional $500,000-$2,000,000. If just 1% of that budget was put towards licensing indie music, advertisers could break a new band and benefit from the number one social currency: music.