​

making the video

​read in browser ​

Hey! I’m still off this week but wanted to share our latest episode on a subject near and dear to my heart, music videos.

I’ll admit, I was on the fence about doing this episode, but I ran it by Tati Cirisano at MIDiA Research, who thought it was a good one. So we recorded together! Here’s a link to the episode and here are a few highlights from our chat.

Hope you enjoy! I’ll be back next week.

Was this forwarded to you?

the long-lost big budget music video

Music videos have had a fascinating lifecycle. When the MTV-to-record store pipeline was strong, the industry poured money into videos. Each music video were four-minute commercials for record labels to reach their target customers. They were the strongest marketing opportunity that money could buy.

In 1987, Martin Scorsese had a $2.2 million budget to direct Michael Jackson’s 18-minute short film for “Bad.” That video had a bigger budget than Taxi Driver.

Today, there are endless ways for artists and record companies to reach fans. Music videos aren’t the only game in town. Even if the music industry’s revenue ever exceeds its inflation-adjusted 1999 peak, those music video budgets aren’t coming back. The million-dollar videos are few and far between.

Most music videos are consumed on YouTube, where the views and consumption data show that bigger isn’t necessarily better. Some of the most-watched music videos ever are Luis Fonsi’s “Despacito,” Ed Sheeran’s “Shape of You,” and Mark Ronson and Bruno Mars’s “Uptown Funk.” Those videos are good, but they largely got those views because the underlying songs are massive hits. Plus, those artists had other social channels to reach their fans and promote the album. It diminished the impact that a single video could have.

This is the biggest reason for declining budgets. Eyeballs have shifted. In MTV’s heyday, the goal of a music video was to make the biggest statement possible so that the artist can sell more CDs. In the streaming era though, music videos feel more like a minimum viable product.

You can listen to the full episode here or read below for more highlights.

the return on investment

Videos are now both a revenue-generating and a promotional tool. Those views generate ad dollars for the video itself, but they also drive attention elsewhere.

Lyrics videos are low-hanging fruit. Some look like basic words scrolling across a screen like karaoke, but even lyric videos have become an artform of their own. User-generated content is another revenue-generation opportunity. Artists like Lizzo, Lil Nas X, and Doja Cat have put in work toward TikTok campaigns (inspired by their music videos). The current era is a performance marketer’s dream.

But performance metrics and analytics don’t eliminate failure. There are plenty of top artists who spend hundreds of thousands of dollars on videos that barely scratch the surface on YouTube. Some videos with billion of views cost a fraction of those that have tanked, and vice versa. Plus, the artists and record companies now deal with a new challenge —algorithms.

If a video didn’t get much play on TRL or 106 & Park, then that’s on the fans. But on YouTube and TikTok, algorithms are impossible to control and hard to predict. The biggest challenge in the social media era is constructing virality. Most artists, and to a broader extent, have a formula. But they’ve all had songs they thought would bomb but took off, and vice versa. Like Lil Nas X in “Old Town Road,” even the masterful plans need a bit of luck.

where the money flows

On our past podcast episodes, Tati and I have talked about how form follows function in music. We’ve seen how pop music evolves to sell its primary format. From MTV to CD sales to ringtones to streaming to TikTok, we know what a song or video from each phase sounds like.

But what does a YouTube music video look like?

It’s less distinct than the examples above, but I often think of NBA YoungBoy’s videos. The videos are quite similar. There are subtle, formulaic patterns that are a clear attempt to work the algorithm in his favor like MrBeast does with his YouTube videos.

I also assume that the viewing screen plays a factor. Mobile accounts for over 60% of all video views on YouTube. Since most videos are watched on 4-inch screens, it’s harder to justify an expensive, over-the-top music video production budget.

These are just a few highlights from our episode! Tati and I also talked about:

• dollars shifting to music documentaries, live streams, and visual albums
• the most expensive music videos ever
• the impact of viral dances on music videos

Listen to our full conversation here:

Hope you enjoyed this memo. If so, please share. Forward this email to someone who should read it. Text it to a friend. Drop the link in the group chat.

Share on Twitter, LinkedIn, or Facebook. Or copy and paste the link below.

​https://trapital.co/2023/06/16/how-music-videos-have-evolved-with-tati-cirisano/​

want your company featured in Trapital?

We are looking for a few more sponsors in Q4 who want to reach the artists, creators, and execs who read and listen to Trapital on a regular basis. Want your company to reach Trapital's audience? Reach out to us here.

​