While people sit around listening to music and reading online articles after binge-watching videos in their “isolation”, we will see a peak in subscription of online platforms.
There is no denying that music streaming is having a fantastic run with a growth of 25% and more year on year. However, if the business model is based solely upon streaming, Tidal, Deezer and even Spotify will struggle with a massive churn of users (none of the pure streaming platforms has ever made a profit)
The platforms that are using music as a value-added service to sell their core products (Apple, Google, Amazon) will thrive.
Some newspapers see online traffic off the charts and payment of subscription to reach behind payment walls have seen a growth of up to 60%. However, that growth doesn’t make up for the nearly total collapse of local ads.” Virtually all entertainment advertising is gone, restaurants are gone. Automobile advertising is starting to get impacted.”
We also see a massive decline in physical game sales, a trend that has been evident since 2010 and came to a full stop the last month.
Video streaming platforms are also experiencing a massive surge in subscriptions (in fact, so much so that Netflix had to reduce the quality of their video as not to overload the Internet).
Unfortunately, as sure as winter follows autumn, we will see an economic recession, (if not depression) within six months due to the same “isolation”.
This massive drop in the economy will probably see many users cutting unneeded subscriptions and a surge in content piracy.
Work from home will mean economic and social change.
As you all probably know by now, NIM has been practising virtual meetings and work from the home office for more than five years already (the programmatic business model) and can testify to the fact that it is much less costly (up to 60%).
There are bound to be many companies seeing that they can cut overhead by keeping employees at home after the corona crises turn into a recession or more. It will mean that music listening habits and consumption changes, in some cases for the better, along with a general shift in what now constitutes a workplace.
Exactly how remains to be seen (even though I might venture an educated guess).
Sadly the radio will also suffer as fewer people will be listening to music in the car on their way to work.
Not to mention live gigs and concerts that will have to go through a total reboot.
SXSW was cancelled, and Live Nation and AEG suspended nearly all their concerts. And all over the world, promoters, are facing another problem: Fiat currencies are facing a growing instability, more so, since the printing of money will be creating inflation further on.
The EU Copyright directive
What will the current situation of European countries mean for the implementation of the EU Copyright directive?
The stakeholder dialogue concerning Article 17, at which IFLA is represented, and whose objective is to define guidelines for the implementation of Article 17 in national laws in respect of copyright and users’ rights, was to have its 7th meeting on 30 March but has been postponed to a previously unknown date.
Sweden has cancelled meetings to discuss the directive with stakeholders and concentrates on written communications.
Why NIM and CREATIVES®?
We know that the current copyright management system is failing to address many of the challenges of the digital age. Creators of content (music) sometimes have to wait between 18 months and three years to get their share of royalties from streaming and online platforms.
By giving them power over their copyright back to the multitude of songwriters, composers, and other copyright holders, we establish a direct link between the user and those creating the content. We cut the administrative cost by 40%, and they get the money fast. In difficult times this can be the one reason to stay in business.
How can NIM help in making sure that creators of content are able to live upon their creativity?
We believe it’s lies with a simple registration.
Registration of copyrights.
Registration of copyrights and Intellectual property rights is a significant step in making creators of content able to live upon their creativity.
By using blockchain technology (CopyrightChains), an immutable provenance is created for each registration.
NIM will ALWAYS know what percentages each copyright shareholder has and ALWAYS pay the right owner the right amount according to CopyrightShares.
Moreover, we will pay the copyright owners (on average) 45% more and 26 million times faster.
Whatever comes after 2020!