Music trends have always moved fast, but with the digital revolution nearly complete, every aspect of the industry has jumped into hyperdrive.
Artists can create and drop albums faster than ever, reach international audiences in record time, and rise through the ranks of the business with a lean management team and a social media account.
Let’s take a look at a few recent trends in the music world, and what we can expect from this exciting industry in years to come.
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Shifting Identity of Record Labels
Some claim that the death of the record label is inevitable, but it’s more accurate to say that these companies are changing the way they do business to remain relevant, just as they have in decades past.
Streaming is clearly the status quo at this point, and record sales have largely been translated into total stream counts across platforms like Spotify, Apple Music, YouTube, and TikTok.
The best music managers will be able to guide their clients through this changing environment and allow them to make the best deals with labels, ensuring protections and royalties in a complex digital world.
The Post-Album Environment
While there is still a market for the classic album format, we’re seeing an obvious shift away from the long-play structure that artists once relied on to make a statement.
Rappers, DJs, pop stars, and even rock bands are now releasing tracks one at a time, keeping fanbases satisfied throughout the year and maintaining a rigorous touring schedule.
This quick-hit setup is better for audiences, managers, and artists – so, will the album survive? It will always have a place in our hearts, but we may see it slowly disappear.
Alternative Income Streams for Artists
Music purists often ignore the business side of the equation, but the truth is that young artists need to monetize their creativity in new ways if they want to make a lasting career. Music is only a piece of the puzzle, and opportunities are everywhere.
That means pursuing new promotions, collabs, and social media business avenues that may not have existed a few years back. Big money flows on Instagram, Facebook, and Soundcloud if artists position themselves correctly and make the right connections.
Touring and stream sales won’t be going anywhere, but influencer marketing will reach new heights in 2020 and beyond. Clicks and likes are the currency of the day, and it’s all about cultivating that addictive persona that keeps fans hooked.
A wild appearance plays a part, but at the end of the day, great music will always win out.
Some musicians may have a knack for business from the jump, but young artists new to the game should seek the guidance of a proven music manager to help them stay on track.
Crossover Between Genres and Mediums
Artists of all types are embracing the entrepreneurial spirit and testing the waters in different industries, with music at the center of it all.
Music managers are also advising a wider range of clients based on their unique skill sets and business acumen, rather than specialization in one area of entertainment.
Mark Gillespie, one of the 21st-century pioneers of the entertainment industry, is well known for managing musical artists while connecting them with opportunities in film, fashion, new media and technology.
His company Three Six Zero has worked with Calvin Harris, Frank Ocean, Mark Ronson, Travis Scott, and other major artists who have used music as a launchpad to grander numerous business opportunities.
It’s clear that the traditional boundaries between art, music, movies, and new media have been shattered, and the future is wide open for visionaries who can capitalize on these chances to cross over into new territory.
