The music industry has changed at a crazy speed throughout the last couple of decades. So, what should we expect in 2020? Below the 8 trends likely to shape the music industry this year!
— January 16th, 2019
The Internet has transformed music in ways we never thought possible, giving the power back to artists and consumers. But how are trends evolving? Where and how will we be able to sell or buy music?
Below, we mention eight trends published by musiccareerguide.com that will likely make an impact on this new year:
1. Record labels vs. independent artists
Throughout the last decade, almost every new artist decided to go independent instead of waiting to get a record deal.
Thanks to new technology and platforms, musicians can now produce and market their work without the need for a record label.
2. Streaming is king
Let’s face it… no one buys music anymore! So the future is in streaming.
It comes as no surprise that YouTube will continue to be a major player in the game, followed by Spotify. But, streaming services are likely to increase their results in 2020.
3. Augmented and Virtual Reality
In 2020, artists will take advantage of new technologies to grow their fan base and catapult their work. Think of music videos featuring Augmented Reality or Virtual Reality or dead rockstars’ concerts!
As of this decade, the sky is the limit when it comes to new tech opportunities.
4. Social Media Algorithms
Social media platforms, especially Facebook and Instagram, will continue to modify their algorithms. As a result, only those paying to have their content seen will benefit.
Thus, emerging musicians will need to invest more and more money on sponsored posts to reach a wider audience.
5. TikTok is the New Instagram
TikTok is a new and fun video platform targeting younger demographics. Hence, many artists looking to attract a younger fanbase will join the TikTok game.
A few musicians are already experimenting with its potentiality, and they are likely to be followed by plenty more artists in the upcoming year.
6. The importance of video content
As mentioned before, streaming is king! In 2020, people will most likely access music on videos platform even more than ever.
This means that video production will have the same importance as audio production and that musicians will need to stand out among the crowd with perfectly-crafted music videos.
7. Is the time right for the blockchain revolution?
Blockchains have been adopted by various companies handling royalties and copyrights. But, in 2020, this technology is likely to be expanded even more, causing another important revolution in the music industry.
8. The future of live concerts
Big festivals and big concerts are still attended by large crowds, proving live music to be one of the most profitable sectors of the industry. The trend is definitely not going to change in 2020.
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This article is a re-post, with small modifications, of “The Trends Likely to Shape The Music Industry in 2020” an article published on musiccareerguide.com by Wassim Awess.