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The State of the Music Industry 2023

Big Labels vs Digital Streaming

By DEREK LEWISPublished about a year ago 3 min read
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The State of the Music Industry 2023
Photo by Alexey Ruban on Unsplash

The modern music industry has undergone significant changes in recent years, with the traditional power structures and gatekeepers of the industry being disrupted by the rise of technology and social media. Gone are the days where record labels had sole control over what music was played on the radio and what was considered a hit; now, it is the people themselves who dictate the music that is popular and successful.

The music industry is now heavily influenced by streaming platforms and social media, with songs that go viral on TikTok often quickly making their way onto the radio and the Billboard charts. The music that reaches the airwaves is often dominated by the short, catchy song clips known as TikTok “audios” that loop over videos created by users.

However, the vast amount of music now available can often feel overwhelming, and many people feel as though discovering new music has become more of a chore than an exciting pursuit. The sheer volume of music available can make it difficult to sift through and find the good stuff, and many listeners find themselves at the mercy of streaming platforms and the music they see the most profit in. The endless array of subgenres catering to different audiences can also make it difficult to know where to begin.

By Gordon Cowie on Unsplash

The exhaustion of finding new music has driven many people to recycling older music from a time when there was less choice. While the quantity of music available has increased, many would argue that the quality has suffered as a result. Artists who find sudden success from one song often attempt to go viral again, but the success of music is often based on factors such as buzz and catchiness, rather than actual quality. The rapid emergence of new artists makes longevity difficult to achieve, and viral artists are often more likely to fade out unless they sign with a label.

The internet has also allowed small, independent artists to bypass the traditional power structures of the industry and reach listeners directly. Platforms like Soundcloud have provided a way for artists to build a following and achieve success without signing with a record label. However, while this has been a big win for many artists, it has also resulted in a flood of new, inexperienced artists who are struggling to generate long-term profits. This has led labels to consult internet leaderboards to decide what music will make it onto the Billboard charts.

By Austin Neill on Unsplash

While the internet has revolutionized the way we consume music, it has also changed the standards for what is considered good music. Consumers now have a significant influence over what music becomes popular and successful, and it is up to us to decide whether we want to support artists and music that will endure over time, or whether we want to be satisfied with the short-term, disposable hits of the moment.

Artists also have a role to play in shaping the industry and upholding standards. By shifting their mindsets and striving for excellence, they can inspire and encourage others to do the same. Fan bases have proven to be very powerful in inciting significant change, with recent examples like K-pop fans demonstrating the cultural impact that can be achieved through online communication.

In conclusion, the music industry has undergone significant changes in recent years, with the traditional power structures and gatekeepers of the industry being disrupted by the rise of technology and social media. Consumers and artists alike now have the power to shape the industry and determine what music becomes popular and successful. It is up to us to decide what kind of music we want to support and what kind of cultural climate we want to create.

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About the Creator

DEREK LEWIS

I'm a digital marketer and promoter that loves to share new ideas. Music is a passion of mine, so I'm part owner of a music publishing company in Houston, TX. If you are reading this, I really appreciate the support! Peace and Blessings!

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