The music landscape is changing every single day. The emergence of new mediums and platforms are constantly shaping and reshaping how audiences connect with their favorite artists. At the same time, thanks to technology, people are getting their hands on tools that were inaccessible until very recently.
In such a rapidly evolving landscape, anticipating the future of the music industry is anything but simple. Nevertheless, we have made an attempt: this blog will discuss a few trends that we think have the potential to define the future of the music world.
Trends that Will Change the Music Industry in the Coming Years
1) The (Increasing) Dominance of TikTok
In September 2021, TikTok announced a whopping one billion active users, and the platform’s growth shows no signs of stopping.
The opportunities for social media virality and explosion offered by TikTok are tremendous, making it one of the most important digital platforms for music promotion in this day and age, and is likely to keep growing – both in terms of audience and importance – in the coming years.
2) Sync Deals
People are consuming more media than they have ever done.
If there is one thing that musicians need to know heading into 2023, it is that, for music to dominate and be successful, it needs to be attached to something.
This is where sync licensing comes into the picture, allowing you to attach your music to mediums like Netflix, TV, videos, advertising, and games.
3) Machine Learning
From music production to playlist recommendations, machine learning will make everything easier and more effective.
Machine learning has exciting implications for the music world. It can refine music recommendations, help artists create better music, improve the efficiency of live event energy grids, streamline the process of royalty distribution, and even transform the medium of music itself.
Machine learning will paint the picture of our future, and will transform everything from music consumption to how that music is listened to.
4) Increase in Online Music Teachers
As music professionals look to monetize their knowledge and skills, we can expect a sharp rise in the number of online music teachers and lessons.
A silver lining of the pandemic was that it made us comfortable with video calls, webinars, and remote learning – and music teachers are ready to cash in on this comfort.
5) Motion Artwork Replaces the Static Image
You can expect video-based artwork to take over static images, since the former is more engaging for consumers of music.
This is already evident with the increase in Spotify consumption and canvas. While we do not believe that conventional artwork will simply disappear, there are likely to also be versions for Spotify, Apple, and other similar platforms.
Understanding the above trends and how they will transform the way music is composed, marketed, and consumed is essential. These are the contexts in which the music world will evolve over the coming years, and understanding the impact of these shifts is of paramount importance for any musician looking to succeed in this fast-paced arena.
Eric Dalius is The Executive Chairman of MuzicSwipe, a music and content discovery platform designed to maximize artist discovery and optimize fan relationships. Outside of MuzicSwipe, he hosts the weekly podcast “FULLSPEED,” which highlights conversations with accomplished entrepreneurs. Eric is also committed to supporting education through the “Eric Dalius Foundation,” offering four scholarships to US students. Keep up with Eric on Twitter,YouTube, Facebook, LinkedIn, Instagram, and Entrepreneur.com.