MIDiA Research were one of thousands of delegates who arrived in Cannes this week to attend Midem; the annual conference addressing the latest developments in the music industry. Across four days of panels, here are three points we found most insightful:
Still no consensus on streaming: Perhaps predictably, many of the event’s panels with regard to the recorded music business were geared towards streaming. Whilst streaming is now almost universally accepted as the next major format in music, one thing that became apparent is that the jury is still out over what constitutes success in the medium. True, streaming directly monetizes music but to simply consider the number of streams misses its additional function as a collector of data, which can be leveraged in other revenue streams for artists. These include brand partnerships, merchandising and significantly touring, as it allows artists to ascertain where their most dedicated fanbases are located and plan accordingly.