Beats & Bytes - Thanksgiving Music Industry

Although 2016 has been a tough year there are definitely some bright spots to be thankful for.

Mainly, after almost two decades of relentless decline caused by piracy and falling prices, the music business is enjoying a fragile recovery thanks to the growth of paid streaming services like Spotify and Apple Music.

More tickets are selling. More shows are happening. More shows are selling out. Social media and the forward thinking brands have lead to the demand for the experiential economy. Merch numbers are up with better collaborations happening. Vinyl sales are at a 28 year high. New streaming services debuted, record-breaking albums came out, album launch strategies changed and music sponsorship hit an all-time high. There are less barriers for entry for fans and creators and brands and artists are learning to work better together.

These wins all work together to positively effect many aspects of the industry. It’s clear that music is exciting and more relevant than ever with artists like Drake and Beyonce owning a huge part of mainstream culture and emerging artists being able to mobilize their engaged fans.

We have a lot to be grateful in this business of music and the Nue thesis is proving to be true; tech is the savior of the music business and the digital revolution is being won by the consumers. And I expect the space to only grow in these areas in the next few years.

We can all eat to that!

P.S. Keep a look out for our new CRWN episode with Tribe Called Quest premiering tonight at 6pm EST with Tidal. Email me if you want a promo code to watch.

– @JesseKay