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NFTs for the Rest of Us

March 12, 2021 · Leave a Comment

Since my last swipe at NFTs, the hype and debate have skyrocketed. Thankfully, some are looking into the ecological concerns (beyond the band-aid of buying offsets) where solutions would ultimately benefit all blockchain technology applications. And others are exploring how to use the malleable format of NFTs to create or enhance a new kind of art.  

Unfortunately, many see eight-figure sales of a digital collage, and their eyes become dollar signs out of a Looney Tunes cartoon. The overwhelming conversation around NFTs is driven by monster-sized auction results and incredulous “she got how much for what?” takes. This chatter drives the motivation of many artists getting into NFTs: it’s all about making loads of easy money.

Of course, I believe that deserving artists and musicians should be paid handsomely for their art. Duh. But if you’re looking at Beeple getting $69 million for his NFT (and a lot more is going on there) and thinking, “I need to get in on that,” you might want to examine why you’re creating art in the first place.

I’m an idealist, and I think that using the hope of an NFT payday to guide your artistic process is no different than letting a soft drink company change your song lyrics for an ad. That’s cool if you’re cool with it, but don’t fool yourself into thinking that your money-making scheme is anything else just because it’s attached to hip technology.

Seth Godin and Bob Lefsetz have written wise words on NFTs with varying levels of criticism (or realism). But I think that MusicREDEF’s Matty Karas has written the most useful critique so far on what NFTs mean for the music industry. I’m going to quote it almost in full because more people should read it:

Show me this works and I’ll believe NFTs really, truly work: Put an album up for sale as an NFT, straight up, with no bonus content, no scarcity, no exclusivity. A simple $9.99 token available anytime to anyone who wants it. Why would anyone do that?, you ask. For the same reason anyone would sell an MP3s on BANDCAMP or ITUNES, I’ll answer, with the bonus that everyone, from the artist to the songwriters to anyone else who needs to get paid, can get paid instantaneously, no waiting weeks or months, no need to ever wonder if the numbers are being reported accurately, no need to worry about someone pirating the music, and if someone wants to resell it at a discount (because that’s the only way you can resell something that’s readily available) or at a markup (because maybe one day you’ll put it out of print), the artist can get a cut of the resale either way. I get the fun of auctions and the allure of exclusivity and the dream of seven-figure transactions, and there’s a place for all of that of course … But if you’re telling me NFTs are important because they’re a way to authenticate ownership and control distribution and streamline payments, then show me they can do that without raising the price of an album from $9.99 to $9,999.99 and without creating one more experience your average fan can never have.

That’s the rub. There’s a ton of promise in NFTs and blockchain for artists and labels. The technology adds personalization and ownership to digital music and might be a path for fans to move away from the mess streaming’s gotten us into. But before that can happen, we’re going to have to stop looking at NFTs as a high-dollar fad, a get-rich-quick shortcut, or patronage from the crypto-affluent. It’s time to get into the bones of what the technology means for everyday fans, artists, and recording artists and steer the conversation toward the future.

Update → Via a recent post on David Gerard’s Attack of the 50 Foot Blockchain blog:

Put a large price tag on your NFT by buying it from yourself — then write a press release talking about your $100,000 sale, and you’re only out the transaction fee. Journalists who can’t be bothered checking things will write this up without verifying that the buyer is a separate person who exists. Just like the high-end art world!

Filed Under: Commentary, Technology Tagged With: Beeple, Blockchain, Bob Lefsetz, Matty Karas, NFTs, Seth Godin, Technology

Surviving Spotify’s Future Landscape

August 2, 2020 · 2 Comments

There’s a lot of chatter about Daniel Ek’s recent interview with Musically’s Stuart Dredge. There are more than a few nuggets to dissect, but this one is getting the most attention:

“There is a narrative fallacy here, combined with the fact that, obviously, some artists that used to do well in the past may not do well in this future landscape, where you can’t record music once every three to four years and think that’s going to be enough,” said Ek. […] “I feel, really, that the ones that aren’t doing well in streaming are predominantly people who want to release music the way it used to be released …”

As Liz Pelly has explored on The Baffler, Spotify seems intent on influencing artists to tailor their music to benefit the platform. Yes, some point out that in past decades artists used to release 1 or 2 albums every year, so what Ek proposes is nothing new. But the difference is that artists now almost solely rely on touring for income. It’s impossible for most acts to frequently take months off to record a succession of albums without dire financial risk. No doubt you’ve heard the common refrain that bands used to tour to promote album releases, and now it’s the other way around. 

PRS’s Tom Gray illustrates this using The Beatles as an example. The Beatles stopped touring to concentrate on their studio work and, to Ek’s satisfaction, released a lot more than an album every few years. It’s doubtful a 2020 Beatles could do the same. Without touring income, they would be in the hole. Here’s Tom’s take (click here to read the full thread):

Here’s a thought about @PaulMcCartney and his beat combo.

Between 1965 and ‘69, many people assert that some of the greatest records ever produced were made by The Beatles

They never played a single live show in that period.

Let’s look at if Rubber Soul was released today.

— Tom Gray #BrokenRecord (@MrTomGray) July 2, 2020

Tom’s numbers get a little fudgey — studio costs and such don’t need to be that high these days — but the point stands. The Spotify age is not kind to bands that camp out in studios. (The streaming model is even crueler to those who write songs but don’t perform, but that’s a whole other harrowing tale I’ll save for another time.)

Damon Krukowski challenges Ek’s statement by looking at current Spotify earnings from his former band, Galaxie 500. Krukowski points out that the band hasn’t released anything in over 20 years so, by Ek’s reasoning, they shouldn’t do well in ‘this future landscape.’ But they get more than one million streams a month. That’s pretty good, right? God knows I wish my catalog got half those monthly streams. 

You might think those numbers put Krukowski and Galaxie 500 in the musical middle class. Instead, those streams amount to about $1250 per band member a month. Here’s Damon (click here to read the full thread):

“In the entire existence [of Spotify] I don’t think I’ve ever seen a single artist saying ‘I’m happy with all the money I’m getting from streaming’” – Daniel Ek, still unable to get it https://t.co/VLjVt39zLZ

— Damon K (@dada_drummer) July 30, 2020

The concern isn’t what Ek refers to as the ‘top tier’ artists. Those are doing fine. The top artists have always done fine. And, for a variety of factors, they can (for now) live off Spotify royalties and the other compounding advantages of fame and exposure. The problem is the disruption of music’s middle class. This sector relied financially for most of this century (so far) on touring. And with COVID-19 in the air, the absence of touring and the diminished value of recorded music creates a crisis. Music’s middle class was already disappearing — in 2021, it could be gone entirely.1Be sure to put a pin on the idea that this disappearing middle class is reflective of income disparity in our society at large.

That’s what this interview — and Bob Lefsetz’s defense of Spotify — glosses over. Of course, wildly successful artists, with tens or hundreds of millions of plays a month, make good money from streaming. And it’s disingenuous to imply that artists complain because they feel entitled to the same. I can confidently speak for most artists that we just want an opportunity to earn a living through our music. Opportunity is not entitlement. Even though an artist’s ‘middle class’ was always precarious, there’s very little chance now to make it work. 

The implication from Ek is — and he’s not that far off — in the eyes of Spotify, you’re either a superstar or an unknown. The insult is Ek saying that the latter position is mostly the artist’s fault because she’s a Luddite who’s not “putting the work in.”

(I’m reminded of this insightful quote from author Nancy Baym: “It’s amazing to me to see how so many careers, in music and beyond, have shifted such that it’s no longer enough to do the work. Now you have to do the work of making sure everyone is seeing that you’ve done the work.”) 

But I’m not placing all the blame on Ek, streaming, and the Napster guys who let this genie out of the bottle. All of that became inevitable as soon as the first ones-and-zeroes were digitally encoded on a compact disc. But as listeners and recording artists, we play a part by accepting the notion that Spotify is unavoidable and necessary. Yes, I believe that Spotify is not going anywhere. And I doubt they’ll change anything except notch their monthly price up a dollar or two in a few years. What it’s essential also to understand is we’re not obligated to play along. 

As concerned recording artists, we don’t necessarily need to remove our music from Spotify (though, if you do exit the platform, good on you). The key is to treat streaming as the entrance of a marketing funnel to lead potential fans to our sites and mailing lists. Let’s look at it as if it’s radio. Radio in the US egregiously doesn’t pay a royalty to performers, but performers still allow their music on the radio as it’s an entry for new listeners. But they never say, “You should only listen to my music on the radio.” 

Or as a more musically-inclined Tyler Durden might say: “The first rule of Spotify is you do not talk about Spotify.” Only post links to your site or a store like Bandcamp. Seriously — there is no reason to send your fans to Spotify. The distant hope that the company will return the favor by adding your song to one of their big playlists is a broken motivation.

As listeners, we have a responsibility, too. I frequently write about the seductive appeal of streaming — I know I can’t resist effortlessly accessing an album or band that I just learned about. But we should also support the artists we enjoy by directly purchasing their music, ordering their merchandise, and signing up for their mailing lists. It’s not that difficult, and these gestures mean a lot to the artists. And, like musical Tyler, we should spread the word by posting to our favorite artists’ websites and Bandcamp pages, not Spotify players. 

We’ll all benefit the sooner we start thinking of Spotify as an occasional sampling tool instead of a go-to listening necessity. Let’s happily hand the platform over to the ‘top tier’ with their frequent releases and domination of playlists. It’s evident from the interview that’s who Ek has in mind for his company, anyway (besides Joe Rogan, of course). 

Filed Under: Commentary, Streaming + Distribution Tagged With: Bandcamp, Bob Lefsetz, COVID-19, Damon Krukowski, Daniel Ek, Galaxie 500, Liz Pelly, Music Marketing, Nancy Baym, Radio, Spotify, The Beatles, Tom Gray, Touring

What Am I Doing Now? (May 2019 Recap)

May 1, 2019 · Leave a Comment

  • I’m gearing up for a few days at MusicBiz 2019 in Nashville, starting on May 5. I’m expecting terrific panels, productive meetings, new contacts, seeing some old friends, and perhaps an announcement or two from my camp. If you are in Nashville for this conference, then feel free to drop me a line and let’s meet up.
  • The first Q-Burns Abstract Message release since 2011’s “Balearic Chainsaw” is out now on 8D Industries and it’s called AUDIOTOTEMPOLE. This is a special release, and it closes a loop of sorts. These are songs spanning the years. The one with ‘1997’ in the title is that old, and I completed the newest track three months ago. I think that I can now move on to new pastures, new sounds, new — and more frequent — Q-BAM releases.
  • Additionally, on the Q-Burns Abstract Message front, I’m breaking my DJ retirement for one night to play at the Phat N’ Jazzy 25th anniversary party. There are only a few things that would get me to DJ again and this party qualifies. Twenty-five years ago I had a weekly gig playing spacey trip hop records in the backroom of Phat N’ Jazzy at The Beach Club. It was my first residency, and it’s where I honed my DJ craft. I’d probably be in a different place today if the P’n’J crew didn’t trust me to command the backroom vibe. For the May 11 anniversary party I’ll be playing the tunes from that classic era, or at least the ones I still have on vinyl.
  • Consultancy: I’m currently working with Reza of Vexillary, Deepak of Hidden Recordings, and I’ll be advising Snax once again starting next week. A big thanks to my clients for being on board and receptive to some crazy (but effective!) ideas. I’m expanding the consultancy into special one-on-one workshops over the next couple months.
  • Soon you’ll hear me blabbing about music industry stuff on the This Is Orlando and Scotch and Good Conversation podcasts. I also did a long interview with the site MyMusicMoments that I feel good about. I’ll post links to all of these in the blog once they’re online.

Listening (music):

• Simon Scott – Below Sea Level
• Khotin – Beautiful You
• Mary Lattimore & Mac McCaughan – New Rain Duets
• Kankyō Ongaku: Japanese Ambient, Environmental & New Age Music 1980-1990
• Helado Negro – This Is How You Smile
• The 180 Gs – Commercial Album
• Revisited Sonic Youth’s Sister and Mission of Burma’s Vs. in a big way.

Listening (podcasts):

• Cherie Hu’s relatively new Water & Music podcast is great. Stellar music industry commentary. Check out the episode with Amber Horsburgh for starters.
• On Russell Brand’s Under The Skin, I enjoyed the conversations with Douglas Rushkoff and Derren Brown.
• Bob Lefsetz’s podcast is back, and the episode with Billy Bragg is a lot of fun. I especially enjoyed the history lesson on skiffle.
• John Livesay’s appearance on Big Questions With Cal Fussman was super-insightful on the topics of marketing and developing stories.

Watching:

• Cold War
• Free Solo (inspirational)
• Silent Light
• We finished The Americans. I was unsure for the first couple of seasons but we hung in there which paid off … the show got really good (as I’m sure you’ve heard).
• And, sure, we’re watching Game of Thrones. And Gay of Thrones.

Reading:

• Finished Bobby Fischer Goes To War which was fantastic, though it did wind down a bit mid-match (and 3/4 into the book) once it became apparent that Fischer would win. I wholeheartedly recommend it, though. One big complaint: the book mentions throughout that Bobby Fischer often listened to ‘rock n’ roll’ while preparing and practicing, but there’s no mention or clue as to the records of bands he liked. I want to know!
• I’m now halfway through Neal Stephenson’s Snow Crash after multiple people coincidentally recommended it to me over the same few weeks. Confession: this is the first fiction book I’ve read since 2001. No idea why I gave up on fiction, but I’ve meant to get back into it. So far so good — I’m enjoying Snow Crash, though I still am not sure what it is about the book (or me) that inspired various friends to point me to it.

Misc:

• I started using Focusmate over the past few weeks. I’m using it right now. It’s a game-changer — expect a blog post about this soon. In the meantime, here’s the article that convinced me to give Focusmate a try.
• Civic Minded 5, my favorite concert promoters, hosted the trio of Nels Cline/Larry Ochs/Gerald Cleaver a couple of weeks back. A mind-blowing show. There were two sets — the second half of set one was explosive and set two was at times drone-y and Krautrock-y. So good. Again, I’ve never been disappointed by a Civic Minded 5 show and am grateful they are here in Orlando. Your city should be jealous.

Filed Under: From The Notebook Tagged With: 8D Industries, Bob Lefsetz, Book Recommendations, Cherie Hu, Civic Minded 5, DJ, Douglas Rushkoff, Focusmate, Hidden Recordings, Movie Recommendations, Music Recommendations, MusicBiz, Nashville, now, Orlando, Phat N Jazzy, Podcast, Q-Burns Abstract Message, Snax, Vexilliary

8sided.blog

 
 
 
 
 
 
8sided.blog is a digital zine about sound, culture, and what Andrew Weatherall once referred to as 'the punk rock dream'.

It's also the online home of Michael Donaldson, a slightly jaded but surprisingly optimistic fellow who's haunted the music industry for longer than he cares to admit. A former Q-Burns Abstract Message.

"More than machinery, we need humanity."
 
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