We recently spoke about the world’s first platform that monetizes playlists. It’s almost been 10 days since Choon officially started rolling their monetized playlists, and they are already seeing an increase in track uploads and in creation of playlists.
Let’s take a closer look at how Choon is changing the game for artists and music curators across the globe in such a short time since its launch. From a 1,000-track catalogue at the time of its launch, Choon has seen a 6x rise; and has grown to 6,000 tracks now, and the rate of growth is only increasing. This is a phenomenal increase of 25% since Thursday.
Gareth also mentions in his blog that – ‘More tracks have been uploaded in the 6 days following the introduction of playlists than the entire size of the catalogue launch.’
Perhaps what is more interesting than the growth rate of track uploads is that since the monetisation of the playlists, the number of artists has also increased, following an increase in the average number of tracks that every artist is uploading as well. Tale a look below at the rise in the average number of tracks per artists before and after the Choon announcement.
It is wonderful to see, what an incentive like monetized playlists can do. The average track uploads have grown from 1.77 to 3.6 which can also be directly linked to the increase in signups on Choon since their announcement.
Perhaps what is more interesting apart from average track uploads is to understand how the Choon incentive has affected playlist splits.
Since the playlist feature began rolling out, you will notice that a huge chunk of the tracks has been in the default split of 5%. But, you will also notice a rise in the 25% and 50% splitting of track earnings. If you are a playlist curator, and you are earning 50% which is equal to what your artist does, wouldn’t you want to add that track to your playlist?
Now that people are aware of the monetization of playlists on choon, the behaviour of the playlists has changed slightly. Most tracks are still following the default playlist split of 5%, however, the rise in the usage of the 25% and 50% earnings defined by the playlist split, are consistently observing a rise.
While the behaviour of artists is observing a change, since the Choon announcement, let’s see how the monetization incentive has affected the behaviour of the playlist curators. If you look at the following chart, you will notice, that if artists increase their split percentage, the likelihood of curators picking that track for their playlists is higher as well. There is no guarantee on how curators react, but, some higher split acts as a strong incentive for the curators.
In an industry where new revenue streams are always welcome, Choon is attracting artists and curators to be on their platform. To add to that amazing response, we have also heard that Choon will be undergoing a platform redesign in September 2018, followed by a launch of Choon collectibles by November 2018 and for those who are on iOS, Choon will be available to you by December 2018.
Choon has us amused and intrigued on their developments. They have also mentioned that they are working on more amazing stuff. We can’t wait to find out what that is. What do you think they are working on next?