Music Business in 2020: 4 Predictions from Industry Insiders
Take a look at the 4 predictions from industry insiders about what the music business in 2020 holds for all of us.
From the development of file sharing to the democratisation of music-making technology, the past decade has delivered a series of seismic shocks to the international music industry. With the advancement in technology, music lovers can now listen to music and wager in online casinos, such as https://www.vegaswins.co.uk/ simultaneously. Here are some predictions from the insiders on the music business in 2020.
AI Will Reshape the Industry
Artificial Intelligence will automate a whole host of expensive and complicated processes across music creation and advertising. This will cut out the middlemen and democratise the industry. Tools such as voice synthesis will make it easier for thousands of musicians around the world to create high-quality, professional sounding music. Almost everyone will have the tools needed to be a global pop star. People who have never considered themselves artists will be able to make music for the first time with the help of AI.
Copywriting Laws Will Catch Up with New Trends
The internet is a superior model for the delivery of media and is inspiring new business models in the music industry. People are now tuning in to all-you-can-listen programs, such as iTunes and Spotify. Where owners once removed infringing media on various platforms, they now rely on it as a valuable source of entertainment. Music fans also want all of their favourite content to be accessible on all their devices, but do not care whether they own it or not. They also want the opportunity to interact with the music they listen to, be it through mash-ups or fan videos. Unfortunately, copyright laws are old-fashioned and do not allow these kinds of trends to develop.
As copyright laws have become unenforceable, artists consider alternative measures for recovering the cost of recording and distributing music in the following year.
Artists Will Have to Achieve Success on Their Own
People around the globe will be saturated with music by the year 2020. There will be famous artists whose music has reached the masses with the support of a good team, but most singers will have to achieve success on their own. With the help of technology, successful DIY musicians will be able to:
• Use social media and analytics to connect with their fans and fund their projects
• License their music for television, games and ads
These musicians can partner with products and services companies for branding and advertisement. All these things will be done with the ultimate goal of getting their music into the ears of their curators. Cutting through the clutter will be hard, but great music and lots of hard work will lead the way to success.
The Way We Consume Music Will Change
In 2020, smart speakers and voice-mediated music consumption will change the way we consume music. Voice queries will allow users to listen to music that suits their immediate moods or preferences without having to deal with text interfaces or toggle through playlists. For instance, Alexa now understands casual music queries about songs you’ve listened to in the past.