July 26th | Deezer's new boss, Q2 Spotify, ORCA (not the whale)
Welcome to the latest edition of Indie Insider, your go-to newsletter and podcast for all of the latest updates from the wild world of independent music. We're here to keep you updated on the latest industry news, share insights, and provide tips to help you navigate the ever-evolving music landscape.
Alright, let’s dive into this week’s highlights!
ALEXIS LANTERNIER APPOINTED AS THE NEW CEO OF DEEZER
Deezerhas a new CEO.Alexis Lanternierwill head the innovative French DSP, effective September 2, 2024. Lanternier—a seasoned entrepreneur and executive with experience at Walmart Canada and Alibaba’s Lazada—brings a wealth of expertise in building digital consumer goods platforms across Europe, Asia, and North America.
INDIE MUSIC LABELS FORM ORCA, A THINK TANK FOR ‘RECORDED CULTURE AND ARTS’
Several leading independent music labels have launched the Organization for Recorded Culture and Arts (ORCA). ORCA is a think tank that aims to highlight the economic, social, and cultural value of music. Founding members include renowned labels such asBecause Music,Beggars Group,Ninja Tune, andSub Pop Records.
Their mission is to promote a thriving music ecosystem that supports long-term, well-paying jobs and enriches communities.
If you’re curious to sample the kind of work they plan to do, check out their first report, "Setting the Stage: How Music Works." The report provides an introduction to the music industry and emphasizes its economic and cultural benefits. You can find alink to it here. Fair warning, the report is oriented towards folks working outside the music industry—veterans might find some of the information redundant, but it also might offer new perspectives.
Spotify’s success is attributed to strong subscriber gains, improved monetization strategies, and successful price adjustments in developed markets. The platform also saw a rise in monthly active users (MAUs), reaching 626 million globally.
Spotify’s growth indicates a robust and expanding platform even as it finds itself at the center of lawsuits, controversy, and general ill-will within the independent industry. This continued growth suggests that the music industry still has a way to go until it reaches it ceiling in the streaming era. This in turn means more potential listeners for your music. The increased ARPU suggests that subscribers are willing to pay more, possibly reflecting a higher perceived value of the service and thus of music itself. This could lead to better payouts for artists if Spotify takes the imitative to make that a priority. I for one favor continued price hikes for the service, provided that the revenue generated by those hikes finds its way to the creators and rightsholders that give Spotify all its value.
If you haven’t’ already done so, check out our longform podcast, Indie Insider, for interviews with music industry veterans each with amazing insight into how to make music a sustainable career. Our next episode will feature Kodi McKenny talking about how he built Marauder & his recent shift into independent music consulting.