Going into the pandemic, we thought that our business would decline, because all the clubs were shut down, but it actually increased because of customers like these who realized how important music and DJ culture was to their happiness.
Obviously, being stuck at home, it was the perfect time for them to wipe off the dust and start DJing again. We had to broaden our perspective, and I think by doing that, we activated customers that had visited Beatport and been customers in the early years, or the people who’d put away their controllers and had maybe given up on DJing. We wanted to speak to everybody and let them know that we were still going to be supporting the community in any way that we could. We just weren’t doing an effective job of engaging with them or keeping them engaged, so we started making an effort to do that in ways that were inspired or triggered by the pandemic.
Right before the pandemic year, was heavily skewed towards the Western world, but dance music and DJ culture is global we have these communities all over the world. Robb McDaniels: We’ve been trying to answer this for ourselves so we can figure out the right levers to pull and buttons to push as we try to spread the brand around the world. After launching in mid-2019, Beatport’s music subscription products now make up 20% of its revenue.īelow, McDaniels details the mechanisms of Beatport’s growth, its capacity to pay streaming rates that far exceed the industry standard, and why the DJ booth is “the most valuable real estate in the music industry.”īillboard: Are there any demographic shifts among Beatport’s active users that could have contributed to the increase in downloads? In 2022, Beatport paid an average of $0.10808333 per stream, while its service aimed at open-format DJs, Beatsource, averaged $ 0.17773333 per stream - more than 30 times the industry-wide blended average streaming rates across platforms in the United States was $.0053 per stream.
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While the service offers a baseline, standard $9.99 subscription offer, it also has tiers at $14.99 and $29.99 that allow for integrations with other platforms like Serato and Traktor, and being able to play songs while offline - important functions for DJs. At a time when subscription services including Apple Music and Amazon music have raised their monthly prices, and Spotify is expected to eventually do the same, Beatport’s royalty payouts are boosted by drastically higher subscription rates. New Beatport data also paints the platform as a leader in pay-per-stream rates, with Beatport paying 50 to 60 times more per stream than other DSPs. The company is driving this push with its browser-based DJ web application, Beatport DJ, which allows users to access and DJ from its library of music (which includes all major labels as well as leading and boutique dance imprints) without any additional hardware or software.
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Over the past two years, meanwhile, streaming has grown by 60% at Beatport - a jump supported by the platform’s push to appeal to the next generation of DJs, who are expected to gravitate to streaming-based workflows due to their greater familiarity with streaming models versus download models, according to McDaniels. “As a result, you’ll see the shift from the really low payouts at Spotify and Apple to the much higher ones at Beatport, and the copyright holders are the ones who benefit.” “Our hope is that 1% or 2% of Spotify’s paying subscribers decide that their music experience isn’t a lean back one - it’s an active and immersive one where they’ll spend their time listening to their music in the DJ booth or while they’re DJing at home,” he says. Other platforms are, meanwhile, following broader industry trends and have started burying downloads on the desktop version of iTunes, for example, options to purchase tracks notably appear halfway down the homepage.īeatport is working in a smaller market than Spotify or Apple Music, of course, and most casual streamers won’t go on to become practicing DJs, but Beatport CEO Robb McDaniels expects that the fraction that do will contribute to Beatport’s continued growth. (The cost of a digital track at Beatport averages $1.29). By offering high-quality downloads for use in live sets, that functionality is still driving sales in a music market dominated by streaming.
Grimes Talks Cancel Culture With Julia Fox: 'I've Always Been Exceptionally Canceled'Ī key to Beatport’s growth is its focus specifically on DJs.
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