A new report from entertainment intelligence specialists, MIDiA Research and Twitch has revealed that artists are far more likely to earn more money performing live on Twitch than streaming their music online.
The report highlights Twitch as the perfect platform to intimately reach a fanbase, something that musicians can learn from the gaming industry.
It's been no secret that the music industry has been in a state of transition since online streaming became the primary source for listeners. While for some it has democratised power structures and earning potential, there are still vast amounts of money not reaching the artist and instead, lining stakeholders pockets, just like the old days.
With a platform such as Twitch, artists are able to broadcast performances directly to their fanbase and as such is a growing revenue stream. Something that has become a necessity for some, in the past 12-months.
For musiciana, tapping into a rich gaming platform such as Twitch can only be a good thing, as Mark Mulligan, managing director at MIDiA Research explains: “For many, live streaming started out as a solution towards creating a live experience between artists and fans in the midst of the pandemic.
"However, its rising popularity, as well as growing opportunity, calls for the music industry to take a page out of the games industry and understand that digital intimacy is the key to opening the box to monetizing fandom.
"The benefits can be multiplied when they are taken to music fans who are also gamers, audiences that will most quickly understand and translate the concepts of digital fandom across to music.”
The report also takes a look at ways in which you can best monetise your performances on the platform, be it from fan-supported streaming contributions; fan subscriptions; Verch, premium comments and emotes; in-game spending revenue shares; and a share of advertising and sponsorship revenues.
With the ability to gain instant global reach, develop your own community and obtain direct monetisation, maybe now is as good a time as ever to diversify your musical outlet with a platform like Twitch?
You can download the full report, Music & Gaming: a new way to play, free from the MIDiA Research website (opens in new tab) now.