Beatport CEO Matthew Adell discussing Context, Convenience and Serving a Community at the Billboard FutureSound Conference (Photo: Arnold Turner)
Perfectly positioned for dance music's rise in the U.S., electronic music platform Beatport is boosting revenue by not only serving DJs, but their fans, said Beatport CEO Matthew Adell during a 15-minute chat on Context, Convenience and Serving a Community at the second annual FutureSound Conference on music and technology in San Francisco Friday.
Beatport was originally built as a record store for DJs, providing a high volume of new, high-quality tracks for working DJs to play at the club. The site is subdivided into 20 genres and localized in seven languages.
But non-DJs flocked to the store as well, Beatport found. Fans began using Beatport's most downloaded charts as a cheat sheet for hot dance music and consequently the site's audience doubled every twelve months, Adell said, to about ten million visitors per month. Visitors were spending an astounding one hour on the site per visit, he said.
As a result, Beatport turned their DJ record store into a DJ platform to connect artists with fans. DJs can make profiles, create licensed mixes and post events. Ninety-four percent of Beatport artists are independent. The move from record store to platform created a massive jump in revenue, Adell said. While many experts look for a unity of fan service like Spotify and artist service like Bandcamp, Adell said Beatport has already fused the two - at least in the dance category.
Chirpify's Rory Felton explained how his company makes music purchases through social media easy. (Arnold Turner)
Separately, Chirpify VP of Business Development Rory Felton chastised artists and labels for making social commerce so difficult, especially considering the sector will be worth $30 billion by 2015.
Artists who tweet a link to tickets or a merch store send fans down a rabbit hole of forms to complete their purchases. Conversely, seven month-old Portland-based Chirpify conducts sales within the social stream itself, so responding to a tweet with "Buy" completes the transaction. Buyers and sellers must sign up at Chirpify and connect their PayPal accounts to buy stuff within Twitter, and Instagram. Artists get 90-97 percent of revenue from Chirpify-driven social commerce, and its simplicity can seriously boost sales, Felton argues. Case in point, Green Day pre-sold Uno, Dos, and Tres using Chirpify, and Amanda Palmer sold ten thousand t-shirts with one Chirpify-enabled tweet this year.
"Your broadcast platform becomes your in-stream transaction platform," Felton explained.
Chirpify raised $1.3 million in series A financing in April and has expanded into Instagram.
Briefings by Adell and Felton rounded out an A-list of panelists and presenters such as Deadmau5, Google's Tim Quirk, Topspin's Ian Rogers, WME's Marc Geiger, Blue Note's Don Was, Epitaph's Jason Fienberg and many more speakers at the Billboard FutureSound conference, held in association