Explore the Future of Music with Us at IMS Ibiza 2024: How Streaming Evolution and Integrity Shape the Beats of Tomorrow
Day one of the International Music Summit (IMS) Ibiza 2024 kicked off with a landmark discussion hosted by electronic music titans Beatport and Armada Music. The engaging panel titled “Streaming: The Good, The Bad, And The Fraudulent Hosted By Beatport” took place at the luxurious Mondrian Ibiza Hotel, where industry leaders Helen Sartory who is the Chief Revenue Officer at Beatport and Ben Malone, the General Manager & Broadcaster at Armada Music, converged to dissect the pressing issues facing the digital music landscape.
The Evolution of Music Streaming
Since its inception, music streaming has revolutionized the way consumers access and interact with music. However, as the industry has evolved, it has also encountered significant challenges. The session, moderated by Beatport’s CRO and featured by Armada Music’s General Manager & Broadcaster, explored the journey of music streaming from a niche service to a major platform that dominates music consumption today.
Panelists discussed the seismic shifts in music distribution and consumption over the past decade, highlighting how platforms like Spotify, Apple Music, and Beatport itself have expanded access to music but also introduced complexities in royalty distribution and artist exposure. The conversation also touched on the positive impacts of streaming, such as increased global reach for artists and a democratization of music access, contrasting these benefits with the operational challenges and market saturation that complicate the path to success for new artists.
The Challenge of Fake Streams
A significant portion of the discussion was devoted to the pervasive issue of fake streams. This deceptive practice involves artificially inflating stream counts using bots or click farms to manipulate chart positions and royalty payments. The panelists highlighted how these practices not only undermine the credibility of streaming data but also steal revenue from deserving artists who rely on these platforms for their livelihood.
Experts from Beatport and Armada Music shared insights into how their companies are employing advanced analytics and collaboration with other industry players to detect and combat this fraud. The dialogue also covered the broader implications for the industry, including the erosion of trust among consumers and the potential long-term damage to the music ecosystem.
Collaborative Efforts and Industry Response
The discussion underscored the importance of industry-wide collaboration in addressing these challenges. Initiatives like the recently formed “Music Fights Fraud” campaign, which sees major labels, streaming platforms, and distribution companies coming together, were highlighted as critical steps towards restoring integrity in the music streaming industry.
Panelists also discussed the technological and regulatory measures being implemented to safeguard against fraud, including enhanced verification processes, the integration of blockchain technology for transparent transaction tracking, and more rigorous enforcement of streaming rules.
Looking Forward: The Future of Music Streaming
Looking to the future, the session concluded with a forward-looking perspective on the next evolution of music streaming. This includes the integration of AI and machine learning to further personalize music discovery and improve user experiences, as well as the exploration of new business models that can more fairly compensate artists and creators.
As streaming platforms continue to grow and evolve, the panelists emphasized the need for ongoing innovation and adaptation to ensure they continue to serve the best interests of both artists and consumers.
About Beatport
For almost two decades, The Beatport Group has been at the center of DJ culture. Since the founding in 2004, one mission has driven us: to provide world-class products and services that help DJs and Producers at all stages of their career to elevate their craft. Our indefinite pursuit of innovation and inspiration helps to lead the category and define the progression of DJ culture around the world.
Across Los Angeles, London and Brighton, our teams reflect the culture we serve. Beatport are a passionate collective of music professionals and technologists who serve the DJ and producer communities with pride.
About Armada Music
Founded by Armin van Buuren, Maykel Piron, and David Lewis, Armada Music is a record label in the electronic dance music industry, known for its role in enhancing and supporting the careers of some of the world’s top electronic music talent.
Armada Music is the biggest independent dance music label in the world. Founded by Armin van Buuren, Maykel Piron (CEO) and David Lewis, the label manages an ever-growing catalog of over 40,000 tracks, built up across twenty-plus years of specialized dance music exploitation.
Across offices in Amsterdam (HQ), New York, London and Laren (NL), Armada Music offers a truly global appeal to its growing roster. The label has its own club, radio studio and multiple production studios, and hosts various live formats. Producer platform Armada University, which offers educational products and opportunities, shows the label’s sustained effort to nurture the next wave of talent.
Our Directors & Founders at UFO Network, Jacques Julie and Darren Bezuidenhout, had the honor and were thrilled to come out this year to cover IMS Ibiza 2024 on behalf of UFO Network. Connect with us on social media platforms below and never miss another update!
About International Music Summit
International Music Summit (IMS) was created in 2007 by influential industry professionals including Ben Turner, Danny Whittle, Pete Tong, and Simeon Friend. A thought-leadership platform for industry, culture, and education in electronic music, the organization champions ethical and sustainable growth and aims to be a catalyst for positive progress and transformation from the boardroom to the dancefloor.
The flagship annual event of IMS, IMS Ibiza, unites thousands of delegates from across the global ecosystem of electronic music, incorporating a three-day summit, the IMS Business Report, and the iconic IMS Dalt Vila closing celebration at the island’s UNESCO World Heritage Site. IMS is co-hosted by Pete Tong and Jaguar (both BBC Radio 1), alongside long-term sponsor AlphaTheta. Follow IMS on Instagram, LinkedIn Facebook & X (formerly Twitter).
