The music industry is a leader when it comes to change and marketing is a big part of music’s evolution. This includes the speed of new practices, technology, and above all platforms. Something new is always on the horizon, Constantly changing trends barely offer enough time to get used to anything that has just appeared. People that work in the industry need to be aware of what’s happening presently while still looking forward to the next new trend that will conquer the largest audience globally.
TikTok
TikTok is the trendsetter par excellence. Expect artists to make more TikToks and despite threats of banning, this platform is just too big and influential to just roll over and play dead. Yet, worries about Chinese ownership could slow its roll. It should remain the best marketing and communications tool available to the music business for launching new products and new people. People hear music on TikTok and then go streaming.
Read More: Promote Your Music On Tik Tok With These 9 Tips That Actually Work
Independent Artists and the Internet
The internet has been a goldmine for independent artists that connect directly with their audiences. Streaming and social media have fueled the reality that a major record is no longer a must to make it in the business. In fact, musicians can now easily produce studio-quality music from their own bedrooms using programs like GarageBand or ProTools.
Independent artists exercise increased control and can receive a greater share of their earnings. Independent artists hit a record in 2021 with a 43.1% share of the market according to MIDia research. With new methods for creating and sharing music, expect more from the independents. This will include specific niches for music products from the wellness and spa industry to almost any commercial enterprise. People crave music as accompaniment for literally all of life’s activities.
Direct Message Marketing
Expect to see more artists engaging in direct messaging initiatives and fan engagement rather than depending on posts and comments. Connecting with fans on a personal level leads to potentially greater sales and larger audiences.
Streaming and Future
Music streaming is predicted to continue to grow even if the economy suffers a setback. It’s no surprise that private equity firms are investing in publishing rights as they are considered to be safe investments. Emerging platforms will aid in stimulating continued global growth. However, it’s probable to expect that prices will increase. Spotify has a Platinum plan that should cost approximately $20 monthly while a majority of Apple Music fans subscribe to Spatial Audio. To sugar-coat price increases, expect limited content and early access benefits as well as special podcasts and more direct artist engagement.
Expect Language Tracks to Take Off Globally
Once music performed in native tongues dominated their local domestic market, rarely leaving the confines of the border. Local dialects have become a major trend. Consider that the oscar for the best song just went to an Indian composer and librettist. Look for more change in 2023.
Less Live Events and Touring
A full comeback from the pandemic has not arrived, yet. Violence and incidents may make local authorities more conservative in granting authorizations. Popular independents had to cancel tours for a lack of interest at the box office. Big ticket sellers like Taylor Swift or Bad Bunny are major ticket sellers, so for consumers with limited budgets, and lots of offerings, lesser-known or independent artists may decide they can’t make a profit on the road.
