Giggem has released new user profiles on its “music matchmaking” platform to bridge music and entertainment industry professionals, making business and interaction more efficient. The site, which launched this summer, helps musicians and industry professionals make relevant business connections in an online community of artists, songwriters, managers, venues, labels, and more.
Giggem is now expanding this platform to include a wider range of professionals within the music industry, segmented into inclusive categories:
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Businesses/Agencies: Ad Agencies, A&R, Animation Studio, Game Studio, Jingle House, Interactive Agency, Media, Movie Studio, Recording Studio, Rehearsal Space, Road Crew, Theater
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Professionals: Booking Agent, Choreographer, Consultant, Dancer, Distributor, Graphic Designer, Image Maker, Entertainment Lawyer, Model-Actor, Movie Director, Music Teacher, Music Video Director, Photographer, PR, Producer, Publisher, Sound Engineer, Supplier
This expansion will help to solidify Giggem as a business and creative media platform. The update comes along with new features, including the ability to see who has viewed a user profile and a direct messaging feature between users. Giggem’s home feed functions in real-time with up-to-date information about new members and connections, opportunities, promotions, new music, new shows, videos, and photos, all within the Giggem community.
Giggem hopes that by augmenting its user community, it will create lasting connections between a variety of people working within the music community. “We have received phenomenal reception from the music community and have helped numerous musicians and bands to find each other,” says Emir Turan, founder and CEO of Giggem. “Talent managers, record labels and musicians have all expressed the value that they’ve found in our community and we’re excited to open up our platform to include more of the industry’s counterparts, especially at the intersection of the music and entertainment.”
YouTube’s Music Subscription Service: Massive Move Toward Mobile Music Industry
1By Carolyn Heneghan
YouTube is already lauded as a giant in the world of music and music videos, and with a new music subscription service on the horizon, it stands to throttle mobile music consumption as we know it.
Set to be launched by the end of this year, YouTube’s currently unnamed (or at least, name unreleased) music subscription service will offer users a way to access unlimited, on-demand music and music videos uninterrupted by ads. They’ll be able to stream full albums rather than the one or two singles the artist might have released videos for. Another premium feature, users can cache songs and videos for offline listening on their mobile devices.
Additionally, a free, ad-supported version of the streaming service will play music videos one after another, like the former model of MTV. Longer viewing means more commercial watching, so this may be a lucrative business move for YouTube as well.
The music subscription service should also coincide with a revamped YouTube app that will allow YouTube to run in the background of a mobile device.
YouTube’s parent company Google has had plans for the music subscription service for some time now, having already secured music licenses with Warner Music Group, Sony Music Entertainment and Universal Music Group when preparing to launch its current music streaming service, All Access, which launched in May.
Moving Toward Mobile Music
YouTube executives have reported that about 40 percent of its viewing takes place on mobile devices, which is a huge surge since being only 6 percent of viewing just two years ago. This is not restricted to YouTube by any means—mobile is the latest trend in media consumption, and the technology is being adopted at an astounding rate, including both smartphones and tablets.
Consumers want to be able to access their music easily, quickly, and from anywhere. In line with Walkmans and mp3 players before them, modern mobile devices offer the best and most convenient portable music experiences available. In turn, more music and media providers are turning toward capitalizing on this growing mobile market, and YouTube is simply adapting to the movements of its customer base.
Successful Business Model?
The big question is, will these features be enough of an improved user experience to encourage YouTube watchers to pay $10 for the subscription rather than simply continuing to watch the ad-supported version for free?
With the volume of YouTube users and video streams—1 billion users streaming 6 billion hours of video per month—even a slight adoption of the subscription service from its user base could mean big bucks for YouTube and parent company, Google.
For example, if one-tenth of YouTube’s current users switched to the subscription service, YouTube would generate around $1 billion per month from subscriptions alone, not counting how much they would make in advertising revenue as well. While one-tenth of the user base may be generous, particularly in the service’s infancy, the numbers do emulate just how financially viable such a service might be.
As revenue from monthly subscriptions would be much steadier and more reliable than pay per clicks—whose rates are dropping due to users’ switch to smartphones and tablets—the new music subscription service appears to be a sustainable business model, and one that could propel YouTube and Google forward in the realm of mobile music and media consumption.
As more music streaming services are now offering paid subscriptions, such as Spotify and Pandora, this move for YouTube appears to be in line with the wave of the future of music listening—one that is sustainable both for the media providers as well as the record companies and musicians themselves.
Keep an ear to the ground—or to your mobile device—around December when the YouTube music subscription service is slated to be released.