Australia, Queensland, Hervey Bay - 03/21/2020 (PRESS RELEASE JET)
Lifeboat for Music in virus turmoil! Music is facing a grim 2020 and beyond, as Covid-19 devastates music revenues! Plaiidium Entertainment’s unique and powerful revenue system remains forceful.
With music bracing for the loss of billions of dollars in revenue, 2020 is looking like a Global Financial Crisis for artists, fans, content creators and all other stakeholders, says Plaiidium Founder and Director, Matthew George.
The Covid-19 pandemic is sending shock waves through music and entertainment globally. With the tragic consequences expected to last months and maybe years, many artists and stakeholders are fearing for the future of music, as extreme financial hardship looms.
Live music was expected to generate USD 28.8 billion in 2020. Now however, music’s most lucrative revenue stream is set to plummet to unprecedented lows, says Mr George.
Streaming has become the savoir of recorded music. Sadly however, with millions of people now facing unemployment, monthly music subscriptions will become a luxury. Revenue from streaming services is expected to fall as a result, leaving no safe haven for a struggling music industry.
A radical new direction is needed, which can counter the coronavirus induced downturn.
Plaiidium Entertainments ’s revolutionary platform delivers free music for fans, still generates revenue from music, and operates without live performances. Allowing artists and fans to remain safe at home, while our system generates solid revenues, says Mr George.
Our unique system can preserve the music ecosystem through this difficult time. In addition, it is highly profitable in the medium term and represents a major financial opportunity.
Before coronavirus the Plaiidium system could generate revenues in excess of USD 400 billion annually, and enable leading artists to earn over USD 1 billion in a single calendar year. A chat-topping single could earn USD 100 million, and USD 500 million for an album. With merchandise, performance rights and touring revenues becoming extra income streams.
Our platform represents a beacon of hope, in what would otherwise be very dark journey ahead. Properly resourced our platform could be operating in 2021, giving real hope to artists, fans and stakeholders for the future of music, says Mr George.
The tragedy of coronavirus will deeply affect fans, artists and all stakeholders. We are all saddened by what consequences are still to come. From all of us here at Plaiidium, please stay safe everyone!
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