The music industry is constantly evolving, and several trends suggest exciting changes on the horizon. What do you expect to see happening over the next 5 years?
Increased use of AI and technology
AI is already transforming music creation, distribution, and discovery. Tools like AI-driven composition software and algorithms for personalised recommendations will become more prevalent. It will be interesting to see if people start making their own music based on their unique tastes, and turn away from mainstream music more than ever.
Virtual and augmented reality concerts
Virtual and augmented reality technologies will revolutionise live music experiences, offering fans immersive concert experiences from their homes. No longer will you need to go out and mix with a crowd. However, this doesn’t seem all that healthy. While it might be good for a certain type of music lover, part of the fun is making friends at concerts.
Blockchain and NFTs
Blockchain technology and NFTs will provide new revenue streams for artists, offering unique digital collectibles and more transparent royalty distribution. It might be that your favourite artist’s music is gate kept behind NFT walls. Therefore, you’ll need to start looking into this method of payment in order to carry on streaming your favourite tracks.
Growth of independent artists
The rise of digital platforms will continue to empower independent artists, allowing them to reach global audiences without traditional record label support. Artists will be able to earn more freely, without a portion of their earnings going to labels and managers. Instead, they can make more of a living through their music.
Growth within all elements of music
Sustainability and ethical considerations
The industry will place a greater emphasis on sustainability, with eco-friendly tours and ethically produced merchandise gaining importance. This goes hand-in-hand with VR and the use of it within the concert world. Artists won’t need to travel, and neither will their fans. However, as mentioned previously, this does take away the atmosphere.
Global music fusion
Music will increasingly blend global influences, leading to new genres and collaborations that cross-cultural boundaries. New genres will always have space in the ever-evolving ecosystem of music. With individuals being able to try new things and develop their own styles more freely, we can expect to see a lot of mash-ups of various genres.
Enhanced fan engagement
Interactive content and direct-to-fan platforms will deepen the connection between artists and their audiences, offering more personalised experiences. This will lead to happier fans in the long run and artists that feel a larger sense of fulfilment.
The future of music promises to be dynamic and innovative, driven by technology and changing consumer preferences. We can expect to see a lot of changes over the next 5 or 10 years, as music will forever evolve and grow into something new. However, the great thing is, we are constantly reviving things from the past too.
