The music industry has been around for eons and has experienced a lot as the years have rolled on. As the peak digitization era unfolds, this pertinent industry has seen loads of changes that are majorly beneficial to the unaffiliated artists, carving a niche for themselves in this highly competitive market. Just as platforms like xonbet have redefined how people engage in gaming by offering accessibility and personalized spinning experiences, modern music platforms are transforming how various musicians engage with their audience. This welcomed shift has seen creators bypass traditional gatekeepers, significantly improving the industry’s general standing.
The Rise of Digitization in the Music Industry
Gone are the days when you had to acquire physical copies of your favorite records to listen to your favorite tunes. In the modern world, you can stream or download your favorite song and enjoy it with no restrictions. This vast shift from the conventional status quo has come with lots of perks in terms of the general quality of the releases coming out and the competitiveness of the industry as a whole. It has also changed the dynamics in that individuals who played a sort of godfather or gatekeeper role in the industry no longer yield the enfettered power that they once commanded.
With platforms such as Spotify, Apple Music, and Youtube Music, creators can now get their music to whichever corner of the globe without depending too much on the record labels. The rise of the digital era in audio art also means that fans are no longer limited to listening to songs from their devices. Rather, they can do so across different devices as long as they log into their digital platform accounts.
Distribution Demystified
In the past, artists needed record labels to physically produce their music and then make the effort to distribute it to brick-and-mortar stores. This factor greatly inhibited the reach of many great grassroots composers from a physical standpoint, and also from a financial point of view. The advent of the streaming platforms mentioned beforehand has greatly democratized the production and distribution process in audio art. Musicians can now directly upload their tunes without having to be controlled by the conventional gatekeepers in the form of record labels.
The modern music distribution matrix has come with a lot of perks, as follows:
- Cost efficiency: Musicians now get to save on production and distribution costs by uploading their music digitally.
- Instantaneous analytics: Streaming platforms provide detailed analytics, which is vital for artists to understand their audience demographics and preferences. With this knowledge, artists can tailor their compositions to be in line with the likings of their fanbases.
- Global reach: With streaming platforms not being limited by boundaries, it removes the need for composers to team up with local distribution partners to push their music.
- Increased revenue opportunities: The aforementioned sites allow composers to earn royalties from their streams, creating a direct sales linkage to their art.
- Reduced dependency on labels: The age-old battle between record labels and musicians is something we have become accustomed to. It is a battle that has seen many great artists being frustrated, and some have even ended up leaving the trade altogether. With the digitization of the industry, musicians retain more control over their rights and creative direction by self-releasing their music.
Promotion Amplified
On the side of this revolutionary time for the industry is social media, which has had a vast role to play, especially for unsigned creators. Platforms like TikTok, Facebook, Instagram, and X (ex-Twitter) have given artists and record labels direct access to their fans, an aspect that has proven to be highly fundamental to many songs and albums’ successes. Social media has also opened up composers to potential new listeners who may come across their compositions as they are scrolling away. With social media, artists also get means to create content that resonates with their fanbases, build personal connections, and ultimately drive up their music sales and streams.
Direct to Fan Sales
Another concept that has garnered steam in the recent past is the concept of direct-to-fan sales via NFTs and digital pressings. NFTs and digital pressings are unique art digital assets that represent the ownership of a specific item, such as art or music. NFTs and digital pressings are vital constructs that artists are now required to be acquainted with because they are a means for the composers to tokenize their creations and to sell them directly to the fans, and perhaps more importantly, to avoid industry gatekeepers from a distributor’s perspective.
Online Performances
Online performances have become the norm, especially after the COVID-19 pandemic showed us that this is a concept that can be implemented and be successful. Perhaps the biggest example of the success stories of online performances has to be Dua Lipa’s 2020 online performance which garnered 5 million viewers worldwide. With online performances, artists have an unrestricted and often cheaper alternative as opposed to physical tours.
The reality is that the music industry is changing, and the changes are irreversible. It is, therefore, incumbent upon various artists and record labels who don’t want to be left behind to get with the times and implement strategies and plans that align with the prevailing trends and times in the industry.
