The question now is whether this social currency translates into actual currency, ie, the kind you can spend. "I think there's a new currency that's emerging in the music industry, which is how many people have shared a given song or a given artist on Facebook," said Facebook vice president of Partnerships Dan Rose at Midem on Monday. "This currency is going to become the new way that people talk whether the music blowing up, and we're just at the beginning of that now."
This may not be 'hard currency,' though there's certainly a lot of exchange. "We talked about 5 billion songs shared in the past four months, you can imagine that number's going to grow exponentially over the next few months and years."
But is Facebook a genuine platform for discovery, or just an echo chamber of already-popular music? Um... "It's not necessarily surprising, but when we looked at the top hundred songs shared on Facebook at the end of last year, what we found is alot of those same songs that you'd find if you looked at a Billboard chart," Rose continued. "But artists that aren't as famous globally but have local pockets of fans showed up on there, and one of those artists was Skrillex, and that's why we used them in our example here."
Actually, Skrillex scored two of the top-10 most-played songs on Facebook in 2011, according to the New York Times. "It's not just reinforcing the same songs that everybody's listening to, it's going to enable new artists and new music to be discovered in ways that have never been possible before at scale."
Comments Closed
steveh Tuesday, January 31, 2012
Sorry to be a numbskull, but how do we precisely define "shared" in this context?
mdti Tuesday, January 31, 2012
I think it would be the "share" link or a link from youtube, and basically all that can make the share or post seen on other people's stream. "Like" could be less efficient in showing up in others' streams.
D Tuesday, January 31, 2012
Where can this aggregate data be found??? Are these "Top 100 songs shared on facebook" only visible by facebook itself?
Evan Reynolds Tuesday, January 31, 2012
The "shares" being generated through facebook have already translated into real currency. Once someone shares a song on their or one of their friends walls many other people besides the two can view it. If they "invisible" viewers like the song they will most likely check out the artists website, facebook page, twitter, etc.. Maybe they will look them up on Spotify or Youtube to give the artists other works a listen to. They will then either become a fan or forget about them. The fans will keep tabs on them and go to their shows when they come around their neck of the woods. Purchasing tickets, albums, merch, and drinks while having a good time at the show. They could of quite possible even bought some merch prior to the show online on iTunes, Amazon, or the artists website. This "invisible" viewer stumbled upon a song that was shared on their friends facebook wall and has translated this "share currency" into actual spending currency. We have a lot of technolgy at our disposal to help our beloved musicians out. This concept of sharing is not new but with the advanced technologies of today it has changed. The radio, word of mouth, and shows was how it used to be and has that really changed much? (maybe the radio impact has dwindled a little bit)
- Evan Reynolds, @reynolds022 on Twitter (my plug :))
steveh Tuesday, January 31, 2012
Sorry to sound like a luddite, but this is total complete fucking shite!
How many people give a comprehensive record of their listening habits on their "wall"? The whole thing is completely random.
To describe this as a new "currency" that could even replace music sales as a way of measuring musical success is scandalous!
I for one do not particularly like to display every detail of my personal habits on my fucking "timeline".
I happen to like a bit of privacy and also I can't stand vanity....
Complete bollox! Utter crap!
This type of "sharing" is a lie!
Evan Reynolds Tuesday, January 31, 2012
I never stated that it was replacing music sales, just that it was helping it along. Also, why would we need to keep a "comprehensive record" of what we listen to on our "wall"? I'm simply saying that if I like a song and I think my friend will enjoy the artist/song I am going to share it with them. That may be on their "wall", e-mail, or someother source. Other "friends" may take a listen to the track I shared and may become fans of theirs along with my friend. That can turn into them purchasing merch from the artist and going to shows because the artist is so fucking awesome. Thus, giving the said artist currency to spend on lavish cars or making more "fucking awesome" music. If you do not enjoy sharing what you do on facebook, why have it? Unless you have something to hide :) <--(this counts as a period) In my opionion everyone is going to pirate a little bit, I think it can be justified a little bit if they then go out and buy the album or go to a concert to help the artist out and allow them to continue in their profession. Especially if the artist that you have pirated their music from is an "underground" artist. As for the vanity, I can't stand dressing tables either.
With love,
Evan
steveh Wednesday, February 01, 2012
Hey this article is about a Facebook honcho implying that "shares" are a new musical "currency". Do you agree with what he says?
I can't see how this could possibly work in the way you have described it because everything you describe is hedged in "if this" or "maybe that" or "can do this". Far too vague to be "currency" and knowing the music business like I do far too easy to corrupt this as a way of reporting.
Answer me this:- of the perhaps 1000s of music tracks that you "maybe" enjoy or like how many do you you actually post about on your Facebook wall? Surely only a selected few?
You see Facebook is a much more random thing. If everyone posted up about every single thing they liked or did firstly they would have no time available to do this - and even if they could there would be such a blizzard of data that it would have no value.
Personally I'm not interested in minute details of what friends like or not. I don't want to read about what they had for breakfast etc. I'm more interested in the more important things they have to say or do, or thoughts they might have.
So to restate:- what the facebook guy says is total shite and your attempted justification is infantile nonsense.
This concept of "sharing" is a lie. It's all a con trick for Facebook to develop targeted advertising. That is why the FB company is valued at 100bln dollars!
Evan Reynolds Wednesday, February 01, 2012
Then invest in their stock when they go public. I enjoy sharing the music I enjoy with my friends and those that may see it beyond my control. I think that sharing has to do with me posting on "your" wall. If it does not then I am clearly wrong. Either way I will share the artists that I like with my friends on facebook in the hope that they will help support their effort at making awesome music in the near future. What you do is up to you. "My eyes can't conceive a world that can not grow."
Arlington girl Tuesday, January 31, 2012
Interesting to see that In-Q-Tel needs the attention of more artists in order to expand Facebook's reach.
ENOUGH! Tuesday, January 31, 2012
I don't understand why the unions don't stand up against Facebook's bullshit. Enough is enough. Speak up.
xxjeannexx Tuesday, January 31, 2012
Skrillex is not a "them."
Skrillex is a "he."
Get it right business people of the world. Maybe once you do that, you'll start to understand this "phenomenon" a little better.
Impatient German Tuesday, January 31, 2012
Come on, Americans...it's way past your time to revolt. The whole world is watching you with a surprised "what the fuck?" face. Every day you get slapped in the face by corporations and you just ask for more. You have no dignity? You have no pride? No self esteem?
Mark Zuckenberg doesn't need more data, he needs a bullet between the eyes. Then, gather up the rest of these mafia fuckers, tie their feet to their servers and throw them in the ocean.
If you are offended by this then you are a neonazi working for SillyCon Valley. Fuck you, too!
@forcemm Tuesday, January 31, 2012
It doesn't mater how many likes you have, it's about number of shares. When fans stop listening and sharing its done.
Hyped enough Wednesday, February 01, 2012
With friends like Morgan Stanley and Goldman Sachs, who needs enemies.
The internet is a giant ad money bubble waiting for a needle to come just close enough.
let me help Wednesday, February 01, 2012
"I think there's a new currency that's emerging in the intel industry, which is how many people have shared a given information or a given personal detail on Facebook"
Here, makes more sense now?
Dalton Priddy Thursday, February 02, 2012
Seems the only one making money is Facebook. Like Google, they place ads around you, mining words, images and links for their own selfish greed. All we get is a free email address and a place to trade our secrets.
Facebook have discovered the cure for loneliness and boredom and connecting with people you'd rather forget.
amplefire Thursday, February 02, 2012
1 independent artist out of 10? That's reason for unsigned artists to get excited?! Facebook is a bubble that's ready to burst, according to recent articles I've read. Social media has been an interesting experiment but we all see clearly now that piracy is a huge problem for artists and record labels. Sharing songs online has had a hugely negative impact on sales of music due to copyright infringements. Google is a conspirator in all of this as it profits from ads and traffic associated with piracy. PLEASE do not be duped into thinking THIS is the future! This is just the present moment and the future has yet to be determined. I predict that all downloads will eventually be illegal. That's right, you heard it here first. NO MORE DOWNLOADS ONLINE. Why? Because it's the only effective way to stop piracy. Most states have designated liquor stores controlled by state govt. Likewise, copyrighted material will ultimately need to be administered from reliable sources less prone to theft of product. The internet is NOT immune from the law! The recent SOPA/PIPA legislation failed but revised legislation will be passed soon enough because this is supposed to be country governed by laws with constitutional protections of personal property. There is way too much competition for limelight on the internet. It was a false hope and promise. I would love to see a future for collective, co op, credit union-style record labels owned as more of a collective by the people. We need to stop demonizing the entertainment industry and start making it the way we want it to be. The isolated, virtual reality of the internet will never be the answer for a real social experience like art or music. Music is like love making. It's much better in person :)
amplefire Thursday, February 02, 2012
Record companies have taken profit hits since the late 90s to the tune of a 50% reduction. Imagine if a car manufacturer was to lose half of its cars off the factory lot due to theft? Well, that's exactly what's happening to songwriters and record companies. All of this talk about how "sharing" music helps artists has not yet been sustained as a collective statistic (due to extreme levels of piracy that continue to go hand in hand with online sales). Yes, sharing music can sometimes help certain artists in terms of publicity, but it's predominately helpful to those already established by record labels. There is no conclusive proof of anything but LOSSES OF REVENUE to copyright holders, including independent artists, independent labels and major lables. Before the internet, successful songwriters made a lot more money in royalties from sales than they do now. This is just one example to help understand the situation at hand. Please do your part to STOP promoting false information online! Please research this issue before asserting information you think to be true, which has no factual basis. Consumers are in denial just as they are about all the sweatshops in Asia making all the clothes they wear "cheaply/conveniently." Just because downloading and stealing music is convenient for consumers, does not mean it's a sustainable, legal model that can survive long term.
R. Thursday, February 02, 2012
I don't have a Facebook account (profile? page? whatever it is called). I make a living from music since 2000. Never felt the need to sell myself as a product to MySpace, Facebook, Twitter, Google. Never will. If they want my data, they can send my agent a question to buy those 10101011100111s at a nice price.
Disc distribution Friday, February 03, 2012
These days social networkig site like facebook is getting popular and people are sharing music on it.I think face book is a good platform for exploration of music.
Disc distribution
steveh Friday, February 03, 2012
All together now:- spam spam spam spam spam spam.......
This is the new facebook currency:- spam!
@jasonspitz Friday, February 03, 2012
Oh my god, the comments are like a black hole in the middle of america's brain.
@retrobassgirl Saturday, February 04, 2012
This is so true
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