Beatport Streaming Service – A Free Service Supported by Adverts
A Beatport Streaming Service will be launched in 2015 by the download site which will be free to listeners with revenue generated by advertising. This was reported by the Wall Street Journal several hour ago.
Beatport is owned by SFX Entertainment who also own various massive EDM Festivals such as Tomorrowland, Electric Zoo, Stereosonic, Voodoo Experience and a 50% stake in Rock in Rio as well as several nightclubs in Miami.
When Vice President – Terry Weerasinghe hosted an SAE Music Business Masterclass earlier this year he alluded to the fact that there would be a big announcement toward the end of the year. Now we know!
The Beatport streaming service is set to take on the likes of Pandora and Spotify but will no doubt also have a major impact on platforms such as Mixcloud and Soundcloud who launched their advert based (and premium advert-free) streaming format recently.
Existing users of Beatport – i.e. DJs need not worry though. The buying and downloading of music for DJing will still be available as will be Beatport Pro for Mac, although be ready for a new storefront as Beatport.com will automatically change to the new steaming format in 2015. So don’t shit yourself when things look different next month…
Why a Beatport Streaming Service?
Dance music is big business now and Beatport VP, Weerasinghe was quick to inform us during his visit here that the site gets over 5 million visits a month and that their closest rivals only get around 1,2 million. They also host over 5 millions tracks and feature more than 25,000 labels. So in a nutshell why service ONLY the DJ market with all this music when you can look to reach the broader listening public who go to all their festivals?
So will the new Beatport streaming service mean more money for labels and producers? Well technically yes, if your tracks are being streamed they will need to pay royalties on this, for sure. But be warned the revenue generated from streaming should be equated to something like revenue generated by radio play who also earn their income from advertising, so the amounts are tiny and as usual the mainstream will garner the most streams, no doubt.
Still if you’re an indie label or producer it can’t hurt that your music may now reach the fans via a massive dance music dedicated streaming service.
But for DJs it does mean that your music collection becomes less and less exclusive as more and more people have access to all these tunes via the Beatport streaming service.
a community center for dance-music fans, showcasing event information, artist profiles and, potentially, live-streamed performances […] The site is likely to incorporate SFX’s latest acquisitions: a music-based social network called Listn, and hostess.fm, which allows users to listen in real time to what’s being played in clubs around the world.
The goal: To funnel the roughly 300 million fans each year who visit SFX’s 59 separate websites, or view its content elsewhere, into one place, so that advertisers can reach them more efficiently, the company has said.”
Beatport Streaming Service