Predictions for the music industry: Part 2
Posted by HLPAPG
Bobby Borg, author of Business Basics for Musicians, is back for Part Two of predictions for the music industry! This time, they focus on artist branding, live performances, and new products that might evolve for musical artists. Check them out below and let us know what you think!
Music isn’t going anywhere – we dance to it, graduate to it, and get married to it. But one thing is for sure, the music industry will continue to change and grow. As we head into the bold new musical landscape, indie musicians must keep their eyes on the future.
1. Shifting demographics mainstreamed (Dan Kimpel, Music Journalist)
In making predictions about the music industry in 2020, I envision that the topography of the music landscape will be much more inclusive of artists who are representative of the shifting population demographics.
I believe that Latin artists, communicating in English, Spanish, and “Spanglish,” will be mainstreamed, and that Asian-American singers, bands and producers will become major creative forces. Songwriters will continue to bond together into “writing camps” and will exert an ever-greater influence as shapers of talent and as arbiters and producers of content. Mixers and remixers will become more dominant, as Electronic Dance Music (EDM) continues to unite the globe through worldwide anthems.
What will never change is the power of motivated, forward-thinking creators to configure music to challenge, change, and inspire the lives of listeners.
2. A focus on exciting music – not the latest technical trends (Mike Gormley, LA Personal Management; former manager of the Bangles, Oingo Boingo, and Danny Elfman)
While the focus in the music business has been on the latest technological trends and delivery platforms, innovative, great music will always be the future and true savior of the industry, whether it be the year 2020 or 2025. When jazz arrived on the scene, it was controversial, exciting, and real – as was rock, rap, and EDM. It propelled the music industry forward and gave it life. But what’s next?
The year 2020 will be marked by a new direction in music that shakes up the world once again and puts the focus back on the art and the talented creators, and not just on technology. Those artists who create something unique will thrive.
3. Extended product lines and stronger brands (Fred Croshal, Croshal Entertainment Group, LLC)
In 2020, music will be consumed virtually everywhere – on platforms that are seen today and others that have not yet been envisioned.
To survive, musicians – more than ever – will have to embrace this technology, but they must also realize that music and the distribution and sales of it will only be a one part of the their revenue pie (and perhaps even the smallest piece).
Artists will have to extend far beyond just selling recordings (streams, downloads, CD, vinyl, or whatever new format is discovered), hitting the road, and selling merchandise. Artists will need to grow their product offerings into licensing, sponsorships, production, co-writing, acting, modeling, restaurant franchising, investing, directing, educating, and other new creative ventures unknown today in order to survive and thrive in the new music business.
Thus, in 2020, protecting the artist’s true vision, values, integrity, authenticity, and overall brand image is paramount. Those who understand marketing will grow brands stronger than ever – relating to target markets and engaging fans on a far more personal level than they are doing now.
Long gone are the days of the “mass” broad stroke mentality and narrow mindedness in marketing artists. It’s a new world today and it will continue to evolve in 2020 and beyond. The marketing savvy artist who can grow with it all will thrive.
Read the whole thing over at DiscMakers!