Constructing a Business Model Part 2. The Industry: Current State – Music & Sound Studies
Updated: Jul 18, 2019
Toby Ellis Music – Immersive Audio for Film, TV & Games. Aiming to provide you with unique music for your projects.
This blog post furthers on from Part 1 of my Business Plan. Covering the bases of Industry Data, Market Segmentation and Competitor Analysis. This post I looked into the global music market figures, reflected and compared upon the values industry to industry.
3. Industry Research
3.1 Industry Data
The Global Music Market Figures in 20161: +5.9% Global Revenue Growth, 50% Digital Share of Global Venues, +17.7% Digital Revenue Growth, 60.4% Growth in Streaming Revenue, -7.6% Physical Revenue, -20.5% Download Revenue.
The UK Music Topline Figures 2016: £4.4 Billion = TotalGross Value Added (GVA)contribution generated by the UK music industry 2016(+6%), £2.5 Billion =Total Export revenue generated by the UK music industry in2016 (+13%), 142,208 = Total UK employment sustained by music in 2016 (+19%).
UK Music – Measuring Music 2017 Report. Total GVA Contribution 20162:
PRS for Music Case Study 20172: Since 2010, PRS for Music’s membership has nearly doubled from 65,000 to 125,000 in 2017 (+93%).
Soundcloud Global Music Market Figures 2016 1: 175 million Listeners,150 Million Tracks, 12 Million Creators.
The revenue from the use of music in advertising, film, games and television programmes – grew by 2.8% compared to the 7.0% rise in2015. It maintained its 2% share of the global market1.
According to The Association for UK InteractiveEntertainment (ukie) the global software market expected to grow from $116billion in 2017 to an estimated $143.5billion by the end of 2020, the opportunities for the UK games industry have never been greater. As of August2017, there are 2,175 active games companies in the UK. The UK is the 5th largest video game market in 2017 in terms of consumer revenues, after China,USA, Japan and Germany. Approximately 32.4m people in the UK play games. The UK consumer spend on games was valued at a record £5.11bn in 2017, up 12.4% from2016 (£4.33bn).
UK box office revenues for 2016 exceeded £1.2 billion for the second year running, while annual admissions were 168.3 million.
BFI Statistical Yearbook 2017: Low Budget/Festival Films:
3.2 Market Segmentation
My current Film, TV & Videogame Composing general demographic is: Production Libraries, YouTube Channels, Festival Film Makers,Home Film Makers, Television Series Makers, Indie Film Makers, Indie GameMakers, Home Game Makers, University Students, Fashion Designers (For Shows),Artists, Musical Theatre Companies, Dancers (For Shows/Recitals). There is no current age cap for the uses of my services, my clients so far have aged between 18-36. Essentially, people who are passionate about making Films,Television Shows and Videogames that need original music/sound on their libraries/projects.
With the use of We Transfer, Dropbox and Google Drive and the nature of composing and designing audio for film and video games means I can work from anywhere in the world on theoretically any project in the world.As a growing business my current Film, TV & Videogame Composing general geographic has so far been people who I have met in Hertfordshire, England through university film and animation meet ups and local music festivals and media events. Toby Ellis Music has co-operated with clients who have come from overseas countries such as China, Belgium, Germany and Sweden.
Group of Film Students looking to make a short Kickstarter funded ‘Festival Film’. Film enthusiast watching mostly YouTube and seeing adverts on Facebook, Instagram and Vimeo. Still learning what music is best fora situation. Looking for a cheaper service that still fulfils their needs of an attractive original score.
Middle/Upper Class ‘Home Film Making Enthusiasts’. Film enthusiast watching mostly YouTube and seeing adverts on Facebook, Instagram and Vimeo. With an open time frame, will delve deep in production libraries to find the exact/precise track for their film. Passion projects, will be more flexible to price of service.
Middle/Upper Class ‘Home Videogame Creators/Enthusiasts’.Videogame enthusiast watching mostly ‘Geeky’ YouTube channels and seeing adverts on Facebook, Instagram and Vimeo. Passion projects, will be more flexible to price of service.
Working Visual Editors/Music Supervisors browsing for music to be on their TV Shows. Edits with music on a daily basis, will probably be a film enthusiast and with experience will have good knowledge of precisely what music to use and when. Set to a studio budget, will be told what production libraries they are able to use for their music.
Working Video Game Programme Leaders browsing for music to be on their TV Shows. Videogame enthusiast watching mostly ‘Geeky’ YouTube channels and seeing adverts on Facebook, Instagram and Vimeo. Will usually choose someone they know/ has good recommendation due to the long nature of a project.
3.3 Competitor Analysis
Alex Lamy – Composer. http://www.alexlamy.com/home
Alex took up playing metal and progressive rock guitar when he was a teenager, he went on to complete a BSc Music Commercial Composition and Technology degree at the University of Hertfordshire and following this aMasters Degree in Composition for Screen at the Royal College of Music.
Following his Masters he managed to start working under renowned BAFTA winning composer Richard Harvey, loosely collaborating with HansZimmer on Interstellar, The Little Prince and Inferno.
He was also an assistant and keyboard technician on ‘Hans Zimmer Revealed’ (2014) and his 2016 European live tour.
Since he lives in London and has written music for production music libraries and picture, recently completing the award nominated scores for Matthew J. Rowney’s adaptation of Stephen King’s I Am The Doorway, and more recently Superboy: Son Of Tomorrow.
Selling point – Bandcamp Albums, Production Libraries, Film Clients.
Promotion via Facebook, Soundcloud, Twitter and YouTube.
Simple website, not particularly attractive colour scheme. Holds the company logo, homepage, biography, portfolio, credits and contact. Website and content copyright of Alex Lamy.
James Seymour Brett – Composer. http://jamesseymourbrett.com/
He went to The Royal Academy Of Music in 1997, after which was immediately hired by the acclaimed composer Michael Kamen. James’ further contribution to film scores includes writing collaborations with Kamen on features such as The Event Horizon, What dreams May Come, The Iron Giant,Frequency, X-Men, and the epic miniseries, Band of Brothers produced by StevenSpielberg. In this period James also co-produced and provided additional score on Paramount’s Against the Ropes.
Now a composer for Audio Network Production Library, he has worked on major titles such as Batman Live, walking with Dinosaurs and Planet51.
Selling point – Film Clients, Video game Clients, Production Libraries, Independent Audio + Score Bundle Sales.
Promotion – Facebook, Twitter, Linked In, YouTube.
Brett’s website is presented well by woven design(Biography, Projects, Credits, Blog, Shop, Contact), eye-catching and interactive experience. Has a video showreel on entering his website.
Kevin Sargent – Composer. http://kevinsargent.co.uk/#/showreel/
In his early years began studying to become a stage performer rather than a composer/musician. After finding his love for film scoring through acting, making contacts through small session drum performances and piano accompaniment for little live comedy shows, he was offered to work asa tea boy at a television studio and worked his way up into the management team. After which he started writing music for the studio themselves. He now writes primarily for documentaries on the BBC.
Kevin is well known for his work on such series as the action comedy BBC’s The Wrong Mans, Drama Ordinary Lies, Mapp and Lucia and wasBAFTA nominated for his work on BBC’s The Hour and an Ivor Novello Award for A Waste of Shame.
Selling point –Television Clients, Film Clients.
Has an attractive looking website, good dynamic colour scheme and easy to navigate showreel website all on one page (Latest, Work,About, Contact). No headshot photograph of himself. Has clear social links to IMDB, iTunes, Linked In, Twitter and Vimeo. Website content copyrighted all rights reserved. Invites you to get in touch with an overhanging strip.
Stephanie Economou – Composer. http://www.stephanieeconomou.com/
Started studying the Piano at the age of 7, Violin at 10 and from 13-14 started learning intensive music theory. Studied to be a concert Violinist right up until her Masters Degree where she flipped to Film Scoring after a few small external projects that she really enjoyed towards the end of her degree and moved to LA in the process.
Received her Bachelor’s degree in Composition from the New England Conservatory of Music and Master’s in Composition for Visual Media from University of California Los Angeles.
Acquired a composing Internship with a top Hollywood composer (Harry Gregson-Williams) and has been working closely with him since 2014.
Selling Point – Film Clients, Session Violin.
Has a clean and attractive website that serves its purpose as a show reel hub for her music, maybe a touch plain and simple with no eye-popping colours or unique features (Biography, Listen, Gallery, Contact). Clearly states name but no Logo or copyright on the website (Only on Soundcloud was there a copyright message). Well Networked and has web links to her professional IMDB, Soundcloud, Instagram and Linked In pages.
Broadcasts her specialism clearly as a Film Composer & Violinist on multiple social platforms.
ifpi Global Music Report 2017 – Annual State of the Industry. [online] Available at: <http://www.ifpi.org/downloads/GMR2017.pdf> [Last accessed: 08.04.18] p.6, 12, 22.
UK Music: Measuring Music 2017 Report. [online] Available at: <https://www.ukmusic.org/assets/general/Measuring_Music_2017_Final.pdf> [Last accessed: 08.04.18] p.9, 11, 12.
ukie UK Videogames Fact Sheet [online] Available at: <http://ukie.org.uk/research> [Last accessed: 08.04.18] p.3.
BFI Statistical Year Book 2017 [online] Available at: <http://www.bfi.org.uk/sites/bfi.org.uk/files/downloads/bfi-statistical-yearbook-2017.pdf> [Last accessed: 08.04.18] p.104, 194.