A look back on 2021 — How Streaming Changed The Music Industry During The Pandemic + What Next? In June 2023, tell us what you think!
by AUDIOSPARX — www.audiosparx.com
Music streaming has become an increasingly popular way of listening, sharing, and downloading new music. Unfortunately, due to the COVID-19 pandemic, many live gigs, tours, and concerts were canceled, leaving music streaming platforms to be a primary resource within the music industry. In addition, the postponing and canceling of music events created a devastating financial impact, with streaming platforms taking on the responsibility of helping musicians sustain and receive income during the crisis.
Music streaming has been controversial for multiple artists, with many claiming that they tend to have unfair compensation policies. However, streaming music has changed the music industry since the pandemic struck, allowing any genre or style to become more affordable and trendy.
So, how has music streaming affected the industry as a whole?
Here are some examples of what music streaming platforms have done that create alternatives for music artists, teachers, and independent musicians.
Music is More Customizable
Musicians and artists are always grateful for their fans. With music streaming services allowing a more on-demand service, listeners have absolute power over options, including the genre, artist, song order, and lyrics. As a result, people can pick and choose what they want to listen to without any limitations. They can also create customized playlists of their own, search different playlists to save, and share playlists with others that they use for various activities such as driving in the car, exercising, or working.
Music artists understand and relate to this by creating albums that allow listeners to decide what decisions they want to make. Alternative versions of songs and instrumentals without vocals have become somewhat of a more artistic expression, as heard through Kanye West’s album The Life of Pablo.
Musical Tracks are Shorter and Simpler
Musicians have created shorter songs since music streaming pays less than purchasing an album or a concert ticket. The average song used to be around four minutes in length, but with music streaming, many new or featured songs have an average length of only two and a half to three minutes.
Music artists have also become more efficient with simplifying their musical tracks. Data collection gives musicians the ability to understand what their listeners want to hear. They cut through all of the “extra” and get right to the point.
Music Collaborations are on the Rise
The music industry has become so much more competitive due to the ease of releasing independently with streaming. Because of this, musicians feel the need to constantly and consistently release new music to stay ahead of the trend.
Music artists have taken to collaborating to reach new audiences, which also contributes to making music more diversified. Additionally, reaching out to other music artists and developing partnerships for songs and tracks creates new network streams and working relationships for future collaborations.
More Opportunities Presented From Streaming
Streaming platforms help music artists stay up to date in the music industry, which also paves the way to other income streams and possibilities to stay relevant and grow your music business. For example, musicians who teach lessons can utilize streaming to remain updated with studios or production venues on upcoming events.
Simona P., an online teacher who teaches piano classes around NYC, said that music streaming has opened up multiple opportunities for her to connect with other musicians who share similar interests. Streaming has also provided her with more ideas to develop piano-centered online workshops and classes that help her to generate more revenue streams.
Music Becomes More Diverse
Many independent music artists and record labels reached their audiences by focusing on a core demographic and genre before the internet became a primary source for finding, recording, and enjoying music. However, with tons of music streaming platforms available, music artists can become more versatile and make music encompassing multiple genres and styles.
Take, for instance, the song “Old Town Road” by artist Lil Nas X that became a massive hit in 2019. The song combined country music, hip hop, and R&B in just one musical track, which appealed to all listeners of each style. The diversity of music for the future might showcase that these types of songs with more than one genre present will be the new commonplace for artists.
Music Piracy is Mitigated
One excellent advantage to music streaming is that it is helping to mitigate music piracy, which became a huge deal when Napster erupted in the 21st century. But, unfortunately, the blow cost the music industry billions in lost finances since people no longer buy albums or records.
However, music streaming has allowed the industry to commence growth again by reducing music pirating activity. This revelation is because streaming services and platforms have made it easy for people to access large music catalogs at a low, reasonable price.
The Future of Streaming
Music streaming has made it easier for people to discover new music artists and independent artists who previously would not have the opportunity for such exposure without being signed by a label. Distribution of music online on streaming platforms is much easier for musicians, too.
So, what is next for the music industry? Undoubtedly, music streaming will continue to grow and benefit consumers with the ability to listen and discover a variety of different songs and artists. However, the financial side of streaming is still up for debate. With artists changing the way they write by creating shorter songs or jumping right to the chorus to hit the listener first, streaming services will find a way to serve music artists more efficiently.
The music industry has allowed the playing field to be leveled with power being taken away from major labels with this new age of music streaming. While streaming royalties are lower for musicians distributing in this fashion, it has aided the smaller artists to become discovered and appreciated; this is good for the music industry, good for artists and good for humanity.
First published as an AUDIOSPARX blog on its website on Thursday October 14, 2021
