With shows like 'Russian Doll' and 'Stranger Things' relying heavily on music 'syncs,' a new realm of global opportunity (and money) has opened up to recording artists: 'There is a surge in demand after being released on Netflix.'
With Netflix producing so much original programming — in 2018, it put out nearly 1,500 hours of original productions, including roughly 300 original series globally — and commercial music integral to the tone of those shows, a host of new licensing opportunities is opening up for recording artists. And dealmakers are taking note.
Revenue for music licensing deals — or "syncs," as they're called in the industry — accounts for just 2.3 percent of the total music market, according to the International Federation of the Phonographic Industry's Global Music Report. But it's a growth area, up by 5.2 percent in 2018. But competition for these deals is stiff, and indie artists often get squeezed. Fees for smaller acts "are getting lower and lower. We're seeing offers in the $500 to $1,000 range," says one music supervisor. With name artists often sucking up large portions of music budgets, "the little guys get whatever's left. That could be $3,000 all in, that could be $10,000 all in," says another.
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