Its CEO & Director, Dr Edmund Lam, spoke with Music Asia in an exclusive interview.
May 4, 2017
By James Chen
Composers and Authors Society of Singapore Ltd (COMPASS) has shared its plans for the year ahead. Its CEO & Director, Dr Edmund Lam, spoke with Music Asia on his take of the current music landscape in Singapore as well as his goals for COMPASS in 2017.
1. What are the trends that you see happening in the music landscape for 2017?
Dr Edmund Lam: Streaming has become a main source of income in 2016 for the music industry and will continue to grow this year. As the revenue grows there will be intensified battles on how the growing pie is to be divided. The streaming landscape will also go through rapid changes with many new players coming into the market. The industry generally has found out that ad-supported services just do not make as much money as music subscriptions. So we will see how the business model for streaming will evolve this year.
2. What can we expect in particular from the Singapore?
Dr Edmund Lam: We have seen a growing number of local musicians doing well abroad, such as Nathan Hartono and Linying. Their success abroad will help spur the development of independent acts here with them receiving greater support from record labels and audiences.
Singapore’s own “live” music scene, with its many local artists and bands covering numerous genres, from alternative to jazz will see further growth his year. There are many venues where we can listen to live music and discover the local music talents. This bodes well for the local music industry.
3. What are the plans of COMPASS for 2017?
Dr Edmund Lam: We are aiming for fair remuneration for songwriters. The music market is increasingly digital but our collections from digital services remained pathetically low. We need to rebalance the value of music that currently favours digital service providers at the expense of creators.