Dan Runcie: Is music under-monetized for artists and fans?

"A lot of the discussion on music being under-monetized has focused on streaming rates, Spotify’s pricing, and equity stakes in streaming services. It’s all valid, but it’s one piece of the broader opportunity" - Trapital's Dan Runcie points out in his latest memo, adding that artists "have more opportunities to buy and sell products at every level of the demand curve. An artist can release music on Spotify, promote their tour with AEG Presents, sell tickets on Ticketmaster, perform at Rolling Loud, sell an NFT on OpenSea, sell VIP access on Patreon, and host members-only live streams on Twitch. For most artists, each part of their demand curve is supported by a different company". Runcie sees opportunities in gamified features and collectibles, user-generated content, A.I. as a service, and in-app purchases in digital environments.