This has been a big year for music, not just for artists and trends, but also for streaming services that are just now becoming reliable ways to find music. Most millennials are constantly streaming music in order to stay on top of recent trends and new people to watch and listen too.
Streaming services are fighting for bigger pieces of the pie now in order to capture this newfound love, and several actions from various services are causing them to gather power in the streaming industry.
Spotify goes public
Spotify has set itself up for public purchase on the stock market, allowing itself to make revenue and continue to grow and expand as a company. With Spotify’s growth helping the music industry grow and become more profitable, it will be interesting to see where this takes the realm of music.
However, the concerns about when artists and musicians will start to see some of this money are starting to rise, and so far no long-term answers have been given. So this is more of a double-edged sword for musicians who work with the streaming service.
More and more people are willing to shell out for live concerts to see their favorite stars in person, and live concerts and tours are rapidly becoming more popular. With bigger companies buying and sponsoring tours of artists, this makes sense.
However, many smaller companies are working together to create experiences with smaller artists, giving consumers a great atmosphere for events and making the smaller scale work more popular as well. In addition, producers are often going after the one hit wonders of the music scene.
By taking risks on new artists that have already proven themselves to be popular with one or two songs, companies that throw concerts can easily complete a lineup while leaning on the large fan base of popular fans.
Musicians are seeking connections
Online music is great, especially for streaming services, but there is very little in the way of interaction when it comes to them. Aside from listening too and maybe liking a song, most fans don’t connect with their musician idols.
So more and more musicians are seeking to put out more content in the forms of videos, podcasts, and blogs to keep fans up to date about their lives and gain a true sense of feedback on their work and what fans like and dislike. By giving fans an insight into their personal lives and the way that they write music, this gives everyone a chance to connect.
With the music industry changing and becoming more and more diverse, where connections between producers and listeners are valued, as well as paying artists what they deserve and going to see them live, the lines between listening to music and really understanding the brand have begun to become one and the same.
With the communication lines open, it will be interesting to see what comes next.