How Will The Modern Music Landscape Affect An Artist’s Marketing & Promotion?
Navigating the labyrinth of the contemporary music industry is more akin to solving an enigma than following a straightforward path. In an era where technology reshapes itself at breakneck speed to cater to niche markets, and when music distribution platforms seem to be in a perpetual state of disarray, unsigned artists face increasingly complex hurdles. The advent of innovative technologies and platforms is forging a volatile environment where the artist must be agile, staying in sync with their audience and capitalizing on fleeting micro-opportunities. As the saying goes, “A picture is worth a thousand words,” in today’s digital age, a well-timed tweet or story can mean 1000 new followers in a day. Let’s delve into the insights of industry giants and explore accessible strategies for the modern artist in this ever-evolving landscape.
AI-generated music, the latest game-changer, is posing significant challenges for artist outreach. As novice artists adopt this technology, the fanbase further fragments, disrupting the growth trajectories of emerging talents. While competition is the lifeblood of the industry, the burgeoning supply of music has led to fans becoming exceedingly selective in their musical choices. Although AI-generated music is still in its infancy in terms of quality, it is expected to mature exponentially with technological advancements. While AI cannot emulate the human emotion and creativity inherent in music, access to fans will become a precious commodity as supply outstrips demand. Artists who foster deep connections with their audience will continue to flourish, while others, tech-empowered or not, may find themselves vying for attention among a dwindling pool of listeners.
Blockchain, the industry’s new buzzword, is touted as the panacea for all modern woes. NFTs, with their unique engagement model through smart contracts, are making waves. French electronic music legend DJ Agoria views NFTs as an educational tool for the new generation, advocating for their rarity and desirability rather than widespread adoption. However, he cautions that the speed of Spotify and other giants’ evolution may outstrip the technology. Without a streamlined supply chain for music consumers, NFTs could inadvertently exacerbate the plight of unsigned artists by concentrating the hype around a few elite artists. Therefore, artists must harness the potential of NFTs to engage their audience uniquely and meaningfully, leaving the Herculean task of educating the everyday consumer to developers and blockchain marketing teams.
Embracing the dawn of this new era, Rolling Stone has announced their “Future of Music” showcase in collaboration with SXSW. This trailblazing event in Austin, Texas, brings together traditional and modern industry mavens to foster a space for discussion, innovation, and exposure. Showcasing a mosaic of genres, the event embodies the spirit and passion of musicians who are carving the future of music and setting new benchmarks for upcoming artists.
The reigning titan of streaming, Spotify, is revamping the app to feature an infinite, vertically scrolling feed of content from various platforms like TikTok, YouTube, and Audible, saving users precious time. With a massive user base of over 500 million and paying out nearly 65% of all streaming-related royalties, Spotify aims to streamline the landscape for consumers. However, its ambitious goal of reaching one billion users by 2030 could further marginalize smaller artists, given its pay-per-view advertising model and the algorithm’s bias towards listener preferences, ironically curtailing the discoverability of niche artists.
In the modern music landscape, unsigned artists face a dual reality of opportunities and challenges. To thrive, artists must embrace new technologies, cultivate their fanbase, and remain true to their authentic selves to preserve a genuine allure for listeners. As the music industry progresses, the onus is on artists to stay ahead of the game and seize the opportunities that come their way.
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