ICYMI: Gaming x Metaverse x Music

This article is for beginners who have even the slightest interest in how the games industry and the music industry are related.

Experts however might find it useful to use this article as a pause and look backwards at the recent trajectory this topic has taken.

Also the article is an invitation to attend a panel on the 26.10.2023 and listen live to five experts discuss ways in which the games industry helps music creators find new options for routes to monetisation & fan engagement.

Behind every artist is a business, and it’s necessary to create processes that allow revenue to gush, flow and trickle back into the creator economy.

The following are some ways in which the games industry is helping music creators find new options for routes to monetisation and fan engagement.

1. One way is through in-game soundtracks and music licensing. Music creators can license their music to game developers for use in their games. This can be a great way to generate revenue and reach a new audience. Companies such as Reactional Music are creating innovative segues into this part of the market.
2. Another way is through in-game performances and events. Music creators can partner with game developers to host live performances and events within their games. This can be a great way to engage with fans and promote new music.
3. The games industry is also helping music creators to develop new and innovative ways to monetize their content. For example, some music creators are using blockchain technology to create non-fungible tokens (NFTs) that can be sold to fans. Others are using gaming platforms like Twitch to create interactive music experiences. As well as this the sales of tokens used to gift creators and streamers can generate significant income. The creative known as Tee Grizzley has reportedly made millions of streaming via twitch.

With all that happens at a cultural level, the developments at the faster-moving intersection of innovation gaming and music are transforming the scope for new and emerging platforms to change the way music creators create value.

By using an almost 360-degree approach to reaching consumers and adding value to music, we are seeing an overhaul of the gaming and digital music experience..

ICYMI, the following are some specific examples of how the games industry is helping music creators generate revenue and engage with fans:

• Travis Scott partnered with Epic Games to host a virtual concert in the popular game Fortnite . The concert attracted over 12 million players and generated an estimated $2 million in revenue for Scott.
• Ariana Grande also partnered with Epic Games to host a virtual concert in Fortnite. Her concert attracted over 78 million players and generated an estimated $5 million in revenue for Grande.
• Marshmello partnered with Epic Games to host a virtual concert in Fortnite. His concert attracted over 10 million players and generated an estimated $1 million in revenue for Marshmello.

As well as metaverse experiences games titles are allowing UGC to create revenue streams outside the live and streaming economies. Here are some examples:

• The game Beat Saber allows players to play along with popular songs. The game has generated over $50 million in revenue for music creators.
• The game Roblox allows players to create their own games and experiences. Some players have created games and experiences that feature popular music. These games and experiences have generated millions of dollars in revenue for music creators.

The games industry is a rapidly growing industry with a large and engaged audience. Music creators have a great opportunity to monetise their content and engage with fans through the games industry.

Join us on 26.10.2023 to hear from and ask questions to Dr Jo Twist OBE (she/her) , DJ Basha , Vaby Endrojono-Ellis , Andra Ivanescu and Andy Sesay from Streamcast.

In this session find out how gaming platforms are fueling the monetisation models for music artists – and how by leveraging the metaverse artists are changing how they are able to create additional revenue streams.

Join us to explore the ins and outs of how gamers, and metaverse moguls are growing revenue, and the future of the relationship between gaming and the music biz!