The Future Of The Music Industry

audio music turntable

If you’re curious to learn more about the potential future of the music industry, then you’ve come to the right place.

 

Of course, while nobody can predict the future for sure – and new technology can always have a significant impact on the way we enjoy music – there’s no denying that many changes have occurred over recent decades, and these are sure to have important follow-on effects that may forever change the course of musical history.

 

In this guide, we are going to discuss some of the primary factors responsible for the changes in the music industry nowadays, and how these may affect the future, so let’s begin.

 

First of all, Internet piracy has played a significant role in how artists make money from their music – and while some people believe that piracy isn’t necessarily having a huge impact on the profits within the music industry, many big label producers would certainly disagree. What’s more, smaller, independent artists can often struggle to fund their work due to the impact that Internet piracy has.

 

But another key factor is modern technology – and more specifically – how it has forever changed the way people listen to and enjoy music. In particular, streaming services such as Spotify and Deezer allow people to enjoy music for free, albeit interlaced with advertising. But for a small fee, it’s possible to sign up for a premium account, which allows you to digest a huge swathe of music for one low monthly price.

 

Of course, this is fantastic news for any music fan who is looking to indulge in a broad and eclectic taste in music. However, many record labels and artists have complained that the reimbursement they receive from the rental rights of streaming services are minuscule in comparison to the money they would make from people purchasing their music outright.

 

On the other hand, some artists eagerly support these services, because it allows them to broaden their reach and increase their audience around the world. So for a beginning artist, these services can allow them to reach a whole new audience and ultimately build a career out of thin air – without needing to rely so heavily on the approval of a big-name record label.

 

Yet another key aspect of the music industry is live performance – and even though the Internet age has resulted in disaster for many artists, there is still a huge percentage of the population who attend live music events, and for many artists, this gives them the potential to build their audience and earn a respectable income from their craft.

 

Based on the way things are going, it’s clear to see that many artists are focusing more on the live music industry, rather than hoping to earn big bucks from selling records by themselves.

 

While big-name artists can still succeed through the traditional route, it’s becoming clear that newer, fledgling artists are struggling to receive exposure due to the fact of record labels not being willing to take a risk on anything that isn’t guaranteed to turn a significant profit.

 

But live music still provides a fantastic avenue for an artist to express themselves to a wider audience and see if they can build a career from their talent and skill.

 

Ultimately, the future of the music industry can look either promising or scary, depending on the viewpoint you view it from. For listeners, there has never been a more convenient time to appreciate a diverse range of music. But for artists, it can be difficult to gain the much-needed exposure to make a decent living from the craft.

 

While nobody can tell what will happen for sure, it’s guaranteed that the future of music is going to be very different than times gone by.

How Technology Has Affected The Music Industry

music player on ipad

Modern technology has affected the music industry in many positive ways because it has not been too long ago when the recording was extremely laborious and time-consuming. For example, a recording artist such as Bobby Vee back in the 1960s would have to do a complete song, backed by strings, percussion, and other needed instruments.

Then a master would be made from the tape that worked the best, and made into vinyl which became the final product that was sold.

Now with everything electronic, the strings, percussion, keyboard and whatever else is needed is simply added from the computer as the artist sings. Backgrounds can be added, and the whole affair becomes a canvas of sound.

While this is a good thing, and the recording can now be distributed by MP3 and MP$ and CD, it is also very easy for someone to copy and hijack the song, or just get it for free by copying someone else’s copy.

What has happened is that the record companies are in constant jeopardy of losing their investment in an artist and his or her music since it is so easy to rip it off, and just get it for free. This cuts out an immense profit on the time and investment it took to create the music in the first place.

So, technology has been a double-edged sword in that what has enabled the industry to be able to create unparalleled sounds very easily and magnificently has also made it possible for just about anyone to grab it and steal it.

It is not cheap at all to produce, record, and then market a record album, and there are many record labels who are very concerned by this trend. People are actually buying less music in the traditional manner because of this, and it is of great concern to everyone in the industry.

It has cut down appreciably on the chance for newer artists to have a label even give them an audition because record labels are tightening up the numbers of an artist with whom they are a likely record, as it costs too much money to be taking any risks on newer artists. The record companies are only willing to take risks on the artists that the record company is fairly sure to have sales due to a possible hit record.

While it is possible to code the CDs. for example to prevent piracy, eventually someone figures out the code, and it suddenly becomes a losing proposition for the record company.