November 14, 2023

If $600 billion a year is being spent, why are so many publications closing?

1 hour 7 minutes

In a digital world awash with advertising money, why are music publications and media outlets facing extinction?

As we explore the future of the music press, we take a detour into the world of marketing to help make sense of the economics of the media landscape. Especially as the brilliant Jezebel closed last week and so far this year we've seen huge amount of job cuts across the media (especially at media behemoths VICE and Buzzfeed) and the closure of publications like Gal-dem.

Drowned in Sound's founder Sean Adams invites Darren Hemmings, mastermind behind Motive Unknown and a trailblazer in music marketing, to unravel this paradox. Together, they dissect the perplexing reality of a booming online ad industry ($600 billion a year according to this piece for Harvard Business Review) juxtaposed against the decline of traditional ad-supported music press. From the intricacies of connecting with music fans to the future of music media in the digital era, this episode promises an enlightening journey into the heart of the industry's current conundrum.

DiS016 | Season 2 - The Future of the Music Press | EP8

Episode Highlights

The Advertising Enigma: A look at how $600 billion is spent annually on online ads while media industry job losses and publication closures continue to rise.

Marketing, Money, and Music: Darren sheds light on the challenges of building an audience for artists and spreading music beyond existing fans.

The Art of Connection: Insights into the essence of marketing as not just a transaction but a meaningful connection with audiences.

Strategies Behind Chart-Topping Successes: The tactical approach to getting artists like Wet Leg and The 1975 to the number one spot.

The Evolution of Targeted Advertising: Discussing how the granularity of targeted ads has transformed over the years, impacting the way artists reach their audience.

The Rule of Seven in Music Marketing: Exploring the multitude of touchpoints required to persuade someone to invest in music or a product.

The Role of Indie Sector in the Evolving Music Ecosystem: A critical look at the role and response of the independent sector in shaping the music ecosystem amid major label strategies like Universal's investment in NTS.

Notable Quotes

- "Marketing is about connecting with people in a way that doesn't treat them like a cash cow." - Darren Hemmings.

- "There's a misconception that marketing for big artists like Robbie Williams is challenging, but in reality, they are the easiest to market due to their established fanbase." - Darren Hemmings.

- "We've reached a point where you don't need to buy banner ads on music websites because you can target their readers on Facebook." - Darren Hemmings.

- "I've become that person where every headline I write is a question. It's playing the game almost inadvertently." - Darren Hemmings.