From Vinyl to Streaming: The Changing Landscape of Music Consumption and Its Effects on Artists and Fans
Over the past few decades, the music industry has undergone a significant transformation. From vinyl records to streaming services, the way we consume music has changed drastically, impacting both artists and fans alike. With the rise of AI technology, social media platforms and the global music market’s rapid growth have all played a role in shaping the current landscape of music consumption.
The Viral Phenomenon of AI-Generated Music
Recently, a song called “Heart on My Sleeve” went viral on TikTok, featuring the voices of Drake and the Weeknd. However, the artists had nothing to do with the song’s creation. An anonymous TikTok user named Ghostwriter977 claimed to have used AI to generate the voices of the artists. The song quickly gained millions of views and was streamed on Spotify hundreds of thousands of times before being removed due to copyright issues. This incident highlights the potential impact of AI technology on music production and
AI Technology and the Future of DJing
As AI-generated music becomes more accessible, DJs can capitalize on this trend by creating vast collections of original tunes tailored to their individual tastes and preferences. By keeping their AI-generated tracks exclusive and avoiding putting them on streaming services, DJs can make their live shows a must-attend event for fans. This shift in the music industry could lead to a resurgence of the DJ’s role as a curator of unique, electrifying music, similar to the 1980s Jamaican sound system clashes and the 1990s rave scene.
Streaming Services and the Global Music Market
Financial giants, Goldman Sachs forecast that global music market revenue will top $87.6bn by the end of this year and jump to $153bn by 2030. The International Federation of the Phonographic Industry (IFPI) reported the highest revenue levels this millennium for 2021, with global recorded music industry revenues climbing from $21.9bn in 2020 to $25.9bn in 2021. Streaming services like Spotify and YouTube have played a significant role in this growth, paying out billions in royalties to the music industry.
Emerging Platforms and the Impact on Artists and Fans
Platforms like TikTok are changing the way artists and fans interact with music. TikTok recently launched SoundOn, an all-in-one platform for music marketing and distribution, designed to empower new and undiscovered artists. As the music industry continues to evolve, artists and fans alike must adapt to new technologies and platforms that shape the way we consume and engage with music.