Social music is streaming’s new growth driver, generating around $1.5 billion in 2020 and growing fast in 2021. It represents a natural evolution of social media rather than an evolution of streaming.
Happy Sunday, everyone! I have slowly (and unintentionally) slipped into “summer mode.” I have been working only a little and reading quite a lot. Last week, I also met Ken Kocienda, a former Apple software engineer and designer, to talk about art, life, photography, and watches.
I didn’t spend as much time on Twitter (either perusing or tweeting), so there isn’t a “Tweek” wrap-up for the week. But several articles caught my eye that I probably would have tweeted, and here they are:
During the pandemic, vinyl sales in the U.S. exploded, growing 28.7% in 2020 to $626 million, even beating out CD revenues of $483 million. Vinyl sales have been growing steadily over the years. Everyone (and I mean everyone) is making and selling vinyl records, including Target and Walmart. The annual demand for vinyl is between 320-400 million albums, while the total manufacturing capacity is 160 million albums per year. That is a problem for small labels. And to think, we are in the golden age of streaming — even hi-res streaming! By the way, streaming revenues were up 13.4% to $10.1 billion in 2020.
Indeed, the bad old days of browser wars and conflicting corporate interests are back.
Yes, crypto is hot. NFT is hotter. So is the planet.
You might have already read this article. It is excellent writing and a good post for everyone to share. It was hard, but I got off Facebook and Instagram, and I even managed to limit my Twitter usage to less than 30 minutes a day. If you are a grown-up (like the author of this piece seems to be), you need to know how to exercise self-control and fight off the addictive tendencies that drive so much social media usage.
In a recent report, App Annie, a mobile research and analytics company, points out that the average U.S. android user spent 24.5 hours per month on TikTok, compared with 22 hours on YouTube and 17.5 hours on Facebook. Like I’ve said before, TikTok is coming for YouTube in a big way.
Dan Primack notes many all-time records set in techlandia during the first half of 2021:
- VC dollars invested: $288bn
- VC dollars invested in U.S. startups: $140bn
- Startups sold: $232bn
- 410 companies went public (Thanks, SPACs)
- 5,248 PE/VC funds looking for $900bn
[Actually, I did tweet this one 🙂 ]
I didn’t think the principled India of 1974 described in this article ever existed. That’s just one thing that makes this story so incredible.
July 11, 2021, San Francisco
I came across this opinion piece about the role of social media in the demise and subsequent rebirth of blogging, a topic not unfamiliar to readers of my blog. It credits Twitter for providing a platform that allows for interactions similar to those that distinguished early blogging communities. And at least in a superficial way, that’s not wrong, I guess. But there is a wide gulf between the impulses that drive social media and the “why” of blogging. And the author completely overlooks the latter in his eagerness to report that, after many bloggers were wiped out, some elements of the activity formerly known as blogging survived. (Fact check: classical blogging continues to flourish in all corners of the Internet.)
As I have noted a time or two, blogging and the behaviors it inspired were the genesis of many contemporary activities on the Internet. Yet, despite this, we still seem unable to fully appreciate what was at the heart of blogging — that thing that makes so many of us nostalgic for its heyday, even as we tweet until our thumbs ache. And this brings me to my long-standing quibble with the media establishment: why can’t they recognize significant changes until it is too late?
Marc Weidenbaum, a music enthusiast and founder of Disquiet.com, expertly captures the distinction between blogs and social. “Social media expects feedback (not just comments, but likes and follows),” he writes. “Blogs are you getting your ideas down; feedback is a byproduct, not a goal.” In other words, one is a performance for an audience, while the other is highly personal, though others may end up finding it interesting. Weidenbaum also admirably points out the difference between blogs and all the suddenly ubiquitous newsletters. “And newsletters = broadcasting,” he says. “Blogging is different.”
Bingo. By the way, for this exact reason, I recently decided to rethink the whole notion of my newsletter. I realized that it is just a way to get my words, as I wrote when I announced some recent changes, “from my computer to your inbox in order to spare you the trouble of coming to my website.”
The main reason media stalwarts couldn’t understand blogging is that they couldn’t see beyond their all-too-familiar containers and distribution mechanisms. They were too entrapped in their dogmas. The author of the opinion piece that kicked off this post offers up a telling account of his own transition from blogger to an employee at a legacy media company.
“A key lesson I learned from my new colleagues was that we couldn’t cater to our regular readers the way many classic blogs did,” he writes. “Our salaries were supported by advertising. To make the whole project financially viable, we needed a lot of readers. Practically speaking, that meant bringing in a lot of new readers.” In other words, the company couldn’t conceive of any game other than the one it was already playing.
This problem persists. Rethinking news requires a complete reconsideration of media, what it means, how it gets consumed, and how it gets distributed to those who want it. Even now, the media establishment is so stuck in text that they can’t fully see the extent to which we are transitioning to a world of primarily visual media.
For the future of media — including blogging — look to YouTube, Snap, TikTok, and Instagram. By the way, the content on these platforms is often created and engaged with in a spirit much more analogous to that of traditional blogs than anything you’re likely to see on Twitter. A whole generation has grown up with cameras — and front-facing cameras at that. Smartphones make it so much easier to create daily logs (What else are “stories” on Snap and Instagram?). The behaviors on these platforms will define the media consumption of the future. They are already reshaping the present.
Let’s take music journalism as an example. You are unlikely to stumble upon any new music through a traditional music magazine or even on many traditional music blogs. Instead, people are finding new musical acts on TikTok. “Mainstream music journalism is largely uninterested in promoting discovery, focusing instead on blanket coverage of superstars and seemingly endless traffic-grabbing lists — which may buoy an existing reader base, but often fails to capture newer, younger music fans,” reported (ironically) Rolling Stone. “Enter the upstart music blogs of TikTok.”
TikTok’s rise as a taste maker for music (and culture) is just the evolution of (news) media away from the written word model. Magazines, radio and late-night television shows helped with music discovery before the social era. Blogs came next, by their human curation. Individuals as taste makers and cultural deejays was a trend that became stronger with YouTube, Facebook, Instagram, and Twitter. And TikTok is the newest evolution for a generation that lives at the network speed.
And a generation growing up on the beat of the network wants their news in TikTok-style packaging. The future of media and news is a combination of visual, virtual, augmented, and metaverse realities. It is not a matter of if, but when. I am not saying that the traditional media formats won’t have a role — but they will have to compete with a different reality.
Back when media companies were making a mess of the blogging world, they were hamstrung by their failure to understand and appreciate the “why” of the activity they were seeking to replicate. As they slowly key into the world of visual media — and inevitably attempt to stuff it into their preexisting boxes — let’s hope they don’t make all the same mistakes again.
June 7, 2021. San Francisco
TikTok wouldn’t be selling its US operations to Microsoft. “We look forward to seeing how the service evolves in these important areas,” Microsoft said in a tersely worded blog post. That’s like a jilted teenager, saying good luck after being spurned. I thought the whole notion of Microsoft buying TikTok was a bad idea anyway. And as … Continue reading No TikTok For You
First Huawei, then TikTok and last week, WeChat: we are navigating stormy seas when it comes to the US-China relationship. It all seems very arcane to an average person. After all, it is easy to find a replacement for TikTok. We don’t use Huawei and WeChat as ordinary Americans. But when the blowback comes, it … Continue reading US-China Tech War: Apple is in the eye of a hurricane.