Music streaming services the future of brand building
In the early 2000s, MySpace became the first social media site to have a million monthly active users marking the start of digital marketing. MySpace is a social networking service based in the US. Launched on August 1, 2003, the site was the first social network to reach a global audience, and had a significant influence on technology, pop culture and music.
Today, not a single day will pass without one being bombarded with some form of brand marketing on their social media platforms. We now have influencers based on the platforms they are most engaging in while brands curate their advertisements based on the platforms.
This has ended up becoming a vexing challenge to marketers who must now search for the next big thing that will create and reinforce their brand awareness in a way that their audiences will recognise their brand, messaging and products.
While traditional marketing and advertising has stood the test of time, it is time for marketers to move ahead of the curve, expand their ideals of what social networks are and go where their customers are.
And one of the unconventional social networks are the music streaming platforms which saw a global music subscribers surge by 26.4 per cent to 523.9 million during the Covid-19 pandemic. In Kenya, music streaming platforms subscribers for a platform such as Mdundo rose to 5.7 million in quarter one of 2022 from four million users in the last quarter of 2021.
Music streaming platforms create valuable opportunities for marketers to boost their emotional connection with different audiences. And as in the case of the brands who were first on TikTok, with streaming platform brands have the opportunity to connect with new audiences branded playlists. Music streaming platforms provide brands with organic distribution through branded and social playlists which can be curated to a brand’s purpose. Secondly, for small and medium-size enterprises, the platforms offer affordable yet targeted marketing without breaking the bank.
In an era where marketing budgets are tight, music streaming platforms offer a tactical approach for brands to reach a wider audience in a short time. Marketers can also use the platforms to collect valuable audience data that may have a direct impact on their bottom line.
While it may seem its only brands that benefit, music streaming services have put in place legal frameworks that benefit musicians and artists also benefit from streaming revenue and royalties. By offering free downloads to users, Mdundo, for instance, has enabled brands to associate themselves with artists while curbing illegal downloads.
With the ever-increasing number of Kenyans using smart devices and social networks, marketers must seek ways to speak directly and authentically to them as this is integral to their brand survival and standing out against the competitors.
— The writer is the Head of Brand Partnerships at Mdundo
