In that context, the music experienced a great increase, both in its consumption and in its preparation and production, and is opening towards a new path of democratization of the industry which allows more people to access the resources to create and publish their own songs.
“More and more of that music is made the artists themselveswhich means there is even more demand for software of musical production,” he stated Will Pagemusic industry economist and former chief economist at Spotify and the UK performing rights agency, PRS for Music, in the report published by MusicRadar.
How social networks and streaming services impacted
The increase and popularity that the social networks They allowed more people to individually be able to generate, develop and produce their own content, while also being consumers of other products.
According to the report “The state of the content creator economy“from business analyst MiDiAit is estimated that this trend will continue to increase and in greater quantities, where the total number of music creators reached 76 million of people, which means a 12% increase with respect to the previous year.
In projection to 2030 That number is expected to increase to 198.2 million people, and its growth corresponds to the parallel increase in creators on platforms. “The creators – consumers they transformed photography (Instagram) and videography (TikTok); music will be next,” the analyst said.
How to stand out in a saturated industry and market
The cross-platform and new formats streamingwhich today provide free and available access to creation for millions of people, allowed artists to get a independence in front of record companies and production companies, and monetization by creating, producing and selling their own songs.
However, this overproduction is causing artists to “not identify what they need and why” and in the future “will trigger an unprecedented expansion of the economy funnel of music creators,” details the MiDiA report.
Another challenge that comes into play is the increase and integration of artificial intelligencewhich adds to the adaptation that the music industry is beginning to go through in the face of the changes that are happening in the way people have consume and of produce.
Source: Ambito
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