3 Changes in the Music Industry

As an artist, you should, of course, learn as much as you can about current trends in the music industry. What worked for artists 30 years ago may not fair so well today –in the age of streaming sites. Here are three important things to keep in mind.

Live Shows Now Make Most of Your Revenue
Since music is now very accessible on streaming sites like Spotify, Pandora, and YouTube, music sales make up an average of only 9% of an artist’s income. The majority of your revenue (about 57%) is expected to come from live shows. Basically, your recorded songs advertise your concerts, and not the other way around.

A Bigger Track List Helps You Get Discovered
Take time to build up your track list with as many great songs as possible. If you have a large inventory, chances are somebody’s bound to discover and like at least one of the songs. And on streaming sites, you need as many listeners as you can get. One good track can get about 10 plays per year or more. So might as well make 20 good tracks!

A Great Label Still Has Its Perks
Although it is not absolutely necessary to get signed with a major record label, it still brings a lot of benefits. Label-artist relationships are shifting a lot more towards agent-client relationships nowadays. Companies such as Warner Music Group, Island/Def Jam, Fueled By Ramen, etc. have successful strategies to market and protect their artists. Warner, for example, has YouTube detect its artists’ copyrighted content in videos, then offer the artist compensation for it.

It’s important to keep adapting to changes in time. Apply good strategies that will be effective over the long run.

If you’re interested in getting your YouTube video discovered by masses of targeted fans, click this link : www.promolta.com

Michelle Nguyen is a writer whose passions include music, sports, health, and wellness. She loves playing drums and bass guitar, as well as swimming. If she indirectly helps you write the next “Stairway to Heaven,” she will be very happy.

Leave a Comment