mar-2018c

12 13 CDB HELPS REGIONAL MUSICIANS CASH IN ON GLOBAL MULTI-BILLION DOLLAR INDUSTRY S treaming services,somewith up to 140 million users worldwide,have revolution- ized the business of music.Yet despite the earning potential these services present for industrypractitioners–writers,publishers,perform- ers,and producers–the Caribbean region has been slowto cash in. Aiming to better helpmusic industryprofessionals take advantage of this boom,the CaribbeanDevel- opment Bank (CDB),in July2016,commissioned a feasibility studyand action plan for the digitalization of Caribbeanmusic,to enhance understanding of its effect on themusic industry. Ateamof regional and international consultants met on February21 and 22 in Barbados with indus- try insiders to present the study’s keyfindings,and discuss howbest to develop and expand the Carib- bean’smusic industry.The two-day session,which also included a training component,focused primari- lyon digital and livemusic,and included discussions onmainstreaming participation in the industryby women.Overall,the number of women participat- ing is low,and their roles are often limited to lower earning opportunities,such as performing. “We needmorewomen in publishing and pro- ducing,”said industryexpert Erica Smith,one of the regional consultants who presented at the two-day workshop.Smith also told participants that analysis suggests that the region’s top digital musicoperators would benefit froma demand-driven businessmod- el that targets specific communities andmarkets in the burgeoning online environment.“Regional artists currentlyhave little or no presence on the top reve- nue generating platforms,”she said.“And given that this is amulti-billion dollar and growing industry,it’s undeniable that there is potential to substantially increase the region’smusic industrypresence and revenue generation.” But getting Caribbean artists added to these play- lists has been challenging.As ErikBrataas,co-founder and former CEOof distribution companyPhonofile, which Sonyacquired in 2017,explained,amore collaborative and sustained approach amongmusic stakeholders in the Caribbean is needed.“Consistency is key.Getting onto playlists is not about luck,nor can you buyyour wayonto them,”he said.“You need to build awareness around themusic and the artist, and this is the advantagemajor labels have.They have themoneyand resources to reallydig into this, to take the time to understand themarketplace,and howthemusic travels through the algorithms that ultimatelydetermine listing and ranking.” Whilemajor record labels often guarantee artists visibilityand protection from issues such as piracy,Al- isonWenham,CEO,Worldwide Independent Network (WIN),remindedworkshop attendees that there is power in numbers. There are nomajor record companies in the Carib- bean,a region characterized by independent labels, but 40 percent of global music sales originate from independent record companies,making the inde- pendent sector the largest market share owner in