Beyonce's Parkwood Entertainment has been doing something interesting and other artists should into it; Music video releases on IGTV. They guarantee greater impact over a shorter period.
First off, it's a smart move and it shows how Beyonce has mastered the power of content distribution. Some months ago, Dan Runcie of Trapital had a conversation with Beyonce's dad, Matthew Knowles about Beyonce's streaming strategy. The idea was that Beyonce divided her fan base into three silos; stans, fans and non-fans. This then informs whether her content goes on Netflix, Disney+, Instagram or YouTube.
These days, Parkwood has been giving joy to Instagram's long form video feature, IGTV. First, they did it with Chloe and Halle's 'Baby Girl' viral video and now, with 'Already' video with Shatta Wale.
In three hours, Beyonce's 'Already' video with Shatta Wale has over 3.2 million views. In the period on YouTube, it has about 470k.
YouTube pays artists for videos, but Instagram doesn't at this time. As a matter of fact, Facebook had to move fast during lockdown Instagram Live events, to avoid issues from record labels and publishing companies as well as copyright strikes. It reduced the time for song plays to 59 seconds.
But then, the potential of that company if it focuses on media, content and entertainment is amazing. First, it owns social media and its reach will be limitless - Facebook, Instagram and WhatsApp. Second, for third world countries like Nigeria, data is a big issue and IGTV will probably consume less data for a music video than YouTube.
Third, Facebook already has incredible reach and penetration with WhatsApp and it should look to do something with podcasting on WhatsApp. It will solve the problems of data if podcasts are presented in voicenote formats.
Facebook - as a company - has been shortchanging itself over the past few years. With Facebook, Instagram and WhatsApp, it has a unique power to influence media, content, entertainment like no other, but hasn't cashed in.
All Facebook needs to do with Instagram is create content partnership with artists, labels and rights owners. Artists release their videos on IGTV, Facebook can create in-video ads like Spotify's SAI - charge ad fees based on per second visibility. Facebook can then generate revenue and pay artists a cut of those ads.
Artists get paid. Artists have greater number and traction on Instagram/IGTV platform. Facebook/Instagram benefits from it. Advertisers get visibility and what they paid for. Everyone is happy/everybody gets paid.
A little problem
Facebook already has antitrust problems with the US government. However, this will help artists generate funding like other.