How the music industry has changed over the years
How and where people listen
When new music was released people used to line up outside stores so they could buy a CD or record and finally listen to new music from their favorite artist. Or if they wanted to listen to a song, they had to have that record or CD and play it in full. Now, music is at our fingertips. If we want to listen to any song, new or old, all we have to do is open our phones and hit play. Benjy Grinberg’s blog, How the Music Industry has Changed Over the Last Decade, discusses this shift in trends. He explains how, “In the last decade, the music industry has seen a sharp decline in the sales of CDs. This is primarily due to the rise of digital music, which is more convenient and often cheaper than buying physical albums.” Rather than buying individual albums and tracks, listeners are spending a flat monthly fee for streaming services.
There are pros and cons to this for the artist and the industry itself. “With fewer people buying CDs, there is less revenue, making it harder for these businesses and individuals to stay afloat. In addition, the decline in CD sales has made it more difficult for new artists to break into the industry [...] the decline in CD sales has profoundly affected the music industry, changing the landscape that is still being felt today,” says Grinberg. However, streaming services allow musicians to connect and reach listeners easier than before. For listeners, they can easily discover new artists and discover new music, “They also offer a much more affordable alternative to buying CDs or digital downloads.”
Virtual shows
During the height of the COVID-19 pandemic, artists canceled all of their live performances. Artists were struggling to find a way to connect with their fans and find a way to give “live” performances. Virtual concerts gained popularity. They sold “tickets” to fans who got a live stream link. Then during the live stream, the artist would perform and even talk to fans. Either through live chatting or a Zoom call. Ryan Faughnder’s LA Times article discusses how virtual concerts could continue to be produced. The shows are beneficial to the audience, “who can’t make it to the actual concert in person because of timing or cost, and they also allow for a certain amount of interaction between the audience and the artists.” Listeners can also have a say in what songs are being performed as some shows, “allow viewers to submit song requests and playlist suggestions.” The article cited a UTA survey that claimed, “Three out of four people attended an online event during the pandemic, according to a survey of 1,000 consumers [...] Of those who participated in a virtual event, 88% said they plan to do so again even when in-person gatherings return.” Virtual shows have changed the music industry and have given artists a new way to connect with their fans.
Where artists start their career
“The rise of the internet and social media platforms has revolutionized how bands establish themselves,” says MI College of Contemporary Music. Musicians can connect with their fans in a way they haven’t been able to before due to social media. They can reach a wider audience and use social media to their advantage. MI says, “Creating content and distributing it is one of the most significant ways that social media remains a crucial place to be in the music industry. Not only does this content lead to more interest, but it is also the foundation of finding and keeping long-term fans.” Social media allows artists to create relationships with their fans.
Social media has also been a huge asset to artists who want to be discovered. Vrushali Padia’s article for TheThings points out that, “As the websites and applications earn billions of views, emerging musicians use the opportunity to showcase their talent on these sites as potential audiences, and record label executives are always eager to sign new talent who can grow in popularity.” Anyone can post on social media and it takes one video to go viral to gain an audience. With social media like Tik Tok, and YouTube, some of the most famous musicians got their start on social media. Padia lists Charlie Puth, The Weeknd, Shawn Mendes, Lil Nas X, and Doja Cat as examples of people who thank social media for their popularity.
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