How The Pandemic Is Paying Off For Some Artists
Some artists have used the global shutdown to their advantage
The music industry loves to put all of its eggs in one basket. For years, record sales were the primary money-making aspect of the industry. At the turn of the century, streaming changed that. Unless the artist has millions of regular listeners, the financial return on streaming is negligible, so music industry eggs jumped to touring. That meant relentless and exhausting tour schedules for many artists, along with documented detrimental effects on their physical and mental health.
In 2020, the Covid-19 crisis left the music industry’s eggs suddenly scrambled. The majority of artists, teams and crews were left with an empty work calendar. Many wonder what their next step should be, but the pandemic is paying off for some — at least in part.
Newly minted livestream promoter UK-based Driift has done extremely well. The group promoted four shows in three months, including an engagement with Nick Cave at Alexandra Palace, due for global theatrical release. Billboard estimate the gross earnings of all four shows surpassed $1.4 million. Each one was professionally filmed with multiple cameras and expertly edited. Filming employed the artists’ crew, and because they were filmed in London where all of these artists live and work, there were no travel costs.
R&B legend Erykah Badu, singer-songwriter Angel Olsen, and five-piece rock band Real Estate have all experimented with paid livestreams. Established artists have the capital to produce high quality shows, mostly because they can sell tickets. Such was the case for Ellie Goulding, who sold out her pre-taped album release show, for Brightest Blue, at the Victoria & Albert Museum. Rock group Idles likewise sold 10,000 tickets at £20 (about $25) for two days and three shows at Abbey Road ahead of their third album, Ultra Mono.
For new artists, electronic music performers & DJs alike, digital success is not quite as straightforward. In her latest piece, Lily Moayeri explores the experiences of Gareth Emery, Mat Zo, Disclosure, Morgan Page and more to examine the successes and challenges of artists navigating a digital world. Read it here.
