From Walkman to iPods and to now streaming music online, the music industry and technology have together witnessed an evolving and fruitful relationship over the years. Many of us might remember spending considerable time at a music store, in search of a favorite music CD, or browsing through the store’s music library and shelling out a considerable amount of money collecting the most popular music CDs.
Analytics plays a crucial role in helping music companies to identify and predict what the next hit might be, get in touch to know how we help leading players in the music industry.
Little did we know back then that music would be as accessible at the click of a button in the years to come. And what is even better? It doesn’t even go heavy on your pocket! That’s not all, are you ready to discover what is trending in the music industry? So tune in as we take you through the most popular music trends:
Shift from Record Labels to Independent Formats
Record labels are popular for faithfully clinging on to poster children, and ignoring new talent. But is this going to stop budding artists from showcasing their talent? Thanks to technology, the fresh blood in the music industry is taking to platforms such as social media and music streaming platforms. With a vast number of audience exposed to online platforms, the opportunity for new artists to gain popularity has increased. This has eased the barriers to entry and exposure in the music industry.
Growing Popularity of Live Music
The advent of walkman and iPods in the late ’90s and early 2000s proved to be a wrecking ball for popular music trends such as live music and concerts. However, recent trends show the rise of music festivals, promoting live performances not only by big names in the music industry but also providing scope for new artists to showcase their talent. This trend is expected to grow in the coming years as well.
Cryptocurrency in Music?
With the price of bitcoins soaring up, cryptocurrencies have become the new buzz word in the market. Bitcoin in music, you wonder? Players in the music industry are looking at ways to integrate bitcoins as a medium of payment to download or stream music albums by customers. This will help artists, record labels, producers, or performers involved with a music track to assign the music usage rights to customers in real-time, and the cryptocurrencies ensure a safe mode of payment.
To know more about the trends impacting business growth in the media and entertainment industry, request a free proposal.
The Dawn of AR and VR in the Music industry
VR and AR have made the impossible possible. Many music industry players have recently started to experiment with AR and VR technologies to give the audience a more lively experience, making their dream to see their favorite artist up close a reality. A popular example of this technology being commercialized is a few years back, when 2pac came to life at Coachella 2012. Therefore, you can surely expect AR and VR to become one of the viral music trends in the near future.