the AMP - Issue 06

"I think music in itself is healing. It’s an explosive expression of humanity. It’s something we are all touched by. No matter what culture you’re from, everyone loves music."
— Billy Joel

In This Issue... [ 8+ pages, approx 13.30 minutes] You'll Get...

• RECOMMENDS — The Amplifier from the New York Times

• TALKABOUT — The 2023 Goldman Sachs Music In The Air Report

• WHATEVER — Wait! What? 25 Shows In 24 Hours!

• BACKSTAGE PASS — Why You've Gotta' Do Cover Songs

• PS from PS — The Moneyzitation of the Music Industry

Here's the playlist

• RECOMMENDS — The Amplifier from the New York Times

A Music Newsletter that Offers an ‘Alternative to the Algorithm.’ Lindsay Zoladz, a pop music critic for The Times, cuts through the noise with The Amplifier, a newsletter that harks back to the days of personal mixtapes.

The Amplifier is a twice-weekly newsletter that aims to cut through the noise with a must-listen playlist. In each edition, editor Zoladz recommends about a dozen songs. Tracks she says "will surprise and delight listeners." And she offers her own personal and professional musings about music and pop culture.

Josh Ocampo, who writes for the New York Times Insider, which explains how NYTimes journalism comes together, interviewed Mz. Zoladz. Here are a few excerpts...

"One of the founding principles of the newsletter is that we’re really trying to make this an alternative to the algorithm and the faceless playlists that have taken over a lot of streaming services. I really want this to be a discovery with a human touch and the sort of digressions, random anecdotes, and musings that you can’t necessarily get from a Spotify playlist or A.I.

"I think that we’re consciously trying to amp up the humanity in this newsletter. There’s a real craving for that now. I miss exchanging a mixtape or a mix CD with a friend in high school. I want the newsletter to have that feel."

John Fogg, who writes for the AMP, said, "And... It does. Beautifully. I Love the NYTimes Amplifier. It's a first-class turn on and learn about for me. Backstage pass stories and insights. New discoveries and old remembers. And that it comes with such a right-on Playlist is brillant!

And Zoldaz is my kind of writer. "We’ve found that the more personal and idiosyncratic the newsletters are," she said, "the better they work— which is really exciting for me because I love that kind of writing."

So, do we... and me.

$$ NOTE: The Amplifier is only for NYTimes subscribers. And so is the Spotify Playlist listed in each issue. Oh well...

You can catch a sample issue here: https://static.nytimes.com/email-content/AMP_sample.html

And maybe— if they're not watching— you could catch a couple of them.

Subscribe if it's in your budget. It's way worth it for all levels of music curiosity and appreciation that begin with "What should I listen to?"

• TALKABOUT — The 2023 Goldman Sachs Music In The Air Report

Goldman Sachs Music In The Air 2023: Monetising superfans, price rises, streaming remuneration & AI, as reported in MusicWeek by Andre Paine.

__________

Here's the AMP's summary of the Report.

The music business is enormous. Globally, more than $65 billion— all aspects considered. That makes its annual financial checkup a very big deal for stock market investors in Music, Inc. And the uber-guru in the field is the 2023 edition of the Goldman Sachs Music In The Air Report. Authored by Lisa Yang and her team. This year's forecast suggests that the music industry is going through significant structural changes due to issues such as the under-monetization of music content, old streaming royalty payout structures, and the rise of generative AI.

If you're up for reading the kitchen sink version, tap the link to read the complete article: https://www.musicweek.com/labels/read/goldman-sachs-music-in-the-air-2023-monetising-superfans-price-rises-streaming-remuneration-ai/088139

Here's the MOST IMPORTANT (we think) POINT FOR YOU!

Point 6: Streaming Remuneration.

SuperFans— NML's TrueFans— presents a significant monetization opportunity in the evolving landscape of music streaming. According to the Goldman Sachs report:

• Value Proposition: SuperFans/TrueFans, historically in the download era, spent 3x more on music compared to the average individual. Their dedication to specific artists and music categories drives them to invest more in the content they love.

• Moneytization Potential: If effectively targeted, the monetization of SuperFans/TrueFans could yield almost $2bn of additional revenue by 2027 and double that amount to $4bn by 2030.

• Percentage of User Base: Goldman Sachs estimates SuperFans/TrueFans constitute about 20% of subscribers. These fans might be willing to pay up to twice the amount regular users do, signifying their importance in potential revenue generation.

• Music Consumption: SuperFans'/TrueFans consumption behavior contrasts starkly with general trends. Whereas the overall spending on music as a percentage of nominal consumer spending has decreased over the years, SuperFans/TrueFans continue to invest a higher percentage of their entertainment budget in music.

• Segmentation Opportunity: The current streaming model primarily charges users a flat fee, regardless of their engagement or devotion to specific artists. There's a clear gap for a streaming model that targets SuperFans/TrueFans, offering them more value and, in return, garnering more revenue.

We say this is... Your Most Important Takeaway

The music industry has a lucrative opportunity to boost its revenues significantly by targeting and catering to TrueFans. These dedicated fans are not just willing but eager to spend more on the content they're passionate about. Recognizing, appreciating, and monetizing this segment could transform the industry's financial landscape.

in partnership with Jim Parker Songwriter Series

• WHATEVER — Wait! What? 25 Shows In 24 Hours!

I— Paul— just took some time out from my 24 hours building New Music Lives to watch a remarkable film made by John Foreman the leader of the band Switchfoot. His crazy idea was to play 25 live shows in 24 hours. Did I call that crazy? I did. It was.

What happens is a truly remarkable example of how music shapes life. The sense of being for us all as human beings in the film showed the magical power that music has. Even, within a ridiculously short span of time, music can bind a group of musicians and music fans together in a way that creates true connection and community.

If you can find it— Peacock and Apple TV at present— I urge you to seek it out. I promise the film will make you believe in the spirit of music and the power that it has over the human experience. The film made me believe that what we're doing with New Music Lives is the even more than the right thing to do. It's essential!

You can learn more here: https://jonforeman.com/pages/25-in-24-the-movie

• BACKSTAGE PASS — Why You've Gotta' Do Cover Songs

NOTES & WARNINGS: Telling an independent musical artist they've 'got to' do anything is beyond bad form. Them's fightin' words. That said, how about, 'Please, do cover songs in your setlist.' (Feel better now? )

As for the WARNING: There are laws. This advice is ONLY for busking and bars and other live venues. (Mostly the smaller the better.) According to a Former Chief of Staff/Director of Public Affairs at ASCAP, Bill Thomas, "Typically a venue will have a live music license from ASCAP, BMI, and SESAC, who pay the songwriters and music publishers for the use of their copyrighted tunes. It is not the responsibility of the live musicians to have the music license, it is the responsibility of the venue. So go ahead and show everyone your best version of 'Mustang Sally.' "

If you're going to put your cover on an album or release it on YouTube, that's a can of nasty parasitic worms, so get thee to a copyright lawyer. First. Yes, it's easier to ask for forgiveness than permission. But the price tag on that 'forgive me' gamble isn't worth it.

That all said... Covers can be an inspired way to connect with your audience and lock them into paying you the attention you deserve and priming the pump of them becoming your fans. The 'can' caveat is... It better be good. Take a beloved classic and innovatively spin it your way that sounds special... Yay! Murder somebody's favorite love-remembered song— or any other strong emotional-memory connection— and you've made an enemy for life.

The beauties of a really good cover are: Lots of people know and like the song. In only a few intro cords, you've got their attention. More. Their curiosity. Now, make it your own in any of the many interesting-to-pleasing-to-Whoa! ways there are, that becomes their own. And when an audience member owns your song, you've got them where you want them— on Route 66 from Fan to TrueFan. And yes, if you've only got nine original songs and a 45 minute time slot, covers are a godsend.

Here's a favorite example: The 1984 song Bruce Springsteen hit (583,327,336 streams, almost 400K a day on Spotify alone), Dancing in the Dark. https://youtu.be/129kuDCQtHs Upbeat. Oh yeah!

And from his audition on the Voice Norway, Jørgen Dahl Moe's interpretation: https://youtu.be/xrLv0tAqxh0 Downbeat. Oh yeah!

So... be the audience for 2 minutes 39 seconds. Whadidya' think?

Inner Singer Coach Remarkable Mike Goodrich said, "If you can if you can do it like that, it's absolutely killer. If you can take somebody else's song, put your spin on it so that it sounds like your song. Don't try and sound like that artist. Make that artist wanna try and sound like you.

"If you're gonna do their song, do your version of it. So if they were in the audience, they would watch you and say, 'Wow, I wish I'd thought of that. That was really cool.' Have that kind of confidence in your ability to have your own interpretation."

And our Paul Saunders said, "How many times have you added cover songs to your set as filler...?” I want you to look at them in a different way. Think of them as characters in the drama your set is creating in the hearts and minds of the audience. Select them carefully. Always give them your personal arrangement.

Find a song that's from another genre and bring it into your style and range. Listen to the recent Luke Coombs hit with his cover of Tracey Chapman's 'Fast Car.' He doesn't change it much, but it’s still his version. AND... it created a whole new interest in Tracey Chapman.

So think about the covers you choose. And the reasons you choose them. And the best way that a song can become part of your story threaded into your set as part of the narrative you tell your audience.

And as Performance Coach Tom Jackson teaches, do NOT jam your setlist. Let it breathe. Engage with the audience. Draw them into all your songs— covers and originals— and your stories That's how you'll create 1,000 TrueFans.

• CONTINUE TO ASK FOR YOUR HELP — For people who appreciate the AMP

If you're one of them— the AMP Appreciators— you can help us make more of you. We're not a big deal Internet nor affiliate marketers. We're building NML on a shoestring. (Not even bootstrapping.) So, if you enjoy the AMP... Benefit from what's in each issue... And you're willing and able to spread the word with and for us... Please. And thank you!

Here's the link: https://newmusiclives.com/free the AMP. the Book. the Group. No charge. No strings.

We don't hound people or hassle you with sales pitches.

It's Time... for a Change. Big Time. Past Time.

We're asking you to help us make that happen. Thanks.

• PS from PS — The Moneyzitation of the Music Industry

(And would you believe 1,000 TrueFans is THE key...)

As pointed out above, Goldman Sachs (GS on the NYSE) is the acknowledged leader in the global investment banking industry. When they talk, people— the ones with the BIG money— listen. This is the reason their little bit about 'superfans'— TrueFans to you and me— is such an attention-getter.

GS said that the monetization— moneytization to you and me— of superfans could represent nearly $2bn of incremental revenue by 2027 and $4bn by 2030. (Billion!) They estimate that 20% of subscribers are TrueFans and they would be willing to pay twice as much compared to regular listeners.

Take notice. Please. That plays right into the mission of New Music Lives. We are all about developing every artist's 1,000 TrueFans. That's our main focus. That's the way that we enable and empower our Singer Songwriters to have truly sustainable and satisfying careers.

When you develop and nurture 1,000 TrueFans you have a career that will grow into a lucrative music business. Our goal is the same as yours. And I never thought I would agree with what the big investment industry is saying. But when GS estimates that 20% of all fans are TrueFans and they're willing to pay twice as much, that's gotta be something all Singer Songwriters should focus on.

It's the Gospel according to Goldman Sachs and it is truly 'Good News.'

The same article went on to say (and I have edited it a little)...

“While we would expect strong appetite from superfans [TrueFans] for the opportunity to lean closer into their favorite artists, we believe that not all superfans [TrueFans] would be monetized [moneytized] immediately given it may take some time/iterations for the new product and offering to be fully optimized, and such offering may vary depending on the service.

That last bit— fully optimizing your offering— is what New Music Lives lives for. Good News for you indeed.

NOTE: A $2 billion increase in 'incremental revenue' would be 20,000 Singer Songwriters earning $100,000 with 1,000 TrueFans each by 2027. That's less than 1% of all the Singer Songwriters out there. We can do that! Crazy? Yeah well. Here's to the crazy ones... The ones who are crazy enough to think that they can change the world, are the ones who do.

Thanks for reading. Give us your feedback. And remember, all Issues of the AMP are posted in the Private Group: https://facebook.com/groups/newmusiclives

And PLEASE, if you've got any Singer Songer friends, pass the AMP on, because...

It’s Time... for a Change. Big Time. Past Time...

Paul Saunders