When a year is wrapping up, I’m always partial to looking ahead, not back. But if there’s one thing I learned in 2021, it’s to never predict the future.
Nonetheless, when my friends at Hypebot asked me where I thought the industry was going, I couldn’t help but whip out my crystal ball.
Here are two music business 2022 predictions:
1. The Hybrid Event Becomes Industry Standard
The livestreaming industry exploded due to the pandemic. The genie is out of the bottle and there is no putting it back in. As live events return, consumers and artists are proceeding cautiously. 2022 will shatter the record for most events and shows designed with a hybrid mentality. The people in the crowd IRL will be joined by home and mobile viewers which will drive dual production visions and set new standards for what is possible in hybrid production design. Livestreaming will continue to become more and more appealing to consumers and creators alike.
2. The Era of Predatory Record Label Practices Is Forced To Come To An End
Web3 represents a new ethos where fans can support artists directly and share in the upside. Web2 companies like Kickstarter and IndieGogo helped shape it, as did social media with its ability to connect fans and artists at scale. The streaming economy made it possible for any artist to release a song from their bedroom while digital distributors like UnitedMasters, Indify, STEM and Royal continue to promote the message that artists need to own their masters. Culture is no longer reliant on big media, MTV, and radio, which were controlled by the labels. With Web3, the masses can fund the classics and the non-transparent accounting and predatory deal practices of labels are no longer accepted at face value. For labels to remain relevant, they will need to change their models. I believe they will.
What are your predictions for the future?
And what are you doing to best position yourself for where we’re headed?
I want to hear from you! And I’m going to post my favorite responses on my IG story, so let ‘er rip.
Also published on Medium.