COVID 19- A New Dawn For The Music Industry
While we’re still in the midst of a global pandemic and our way of life has changed overnight as we know it, the music industry is facing its ultimate challenge.
As every business encounters trouble during this time, a number of people out of jobs and no income, the music industry is facing the same struggle. The live performance sector of the industry faces the biggest casualty.
A six-month shutdown has cost the industry an upwards of $10 billion and further delays would prove to be even more devastating. While the industry had seen soaring revenues at the start of the pandemic, due to quarantines and lockdowns people are left with few options, like choosing necessities and splurging to no contact, meaning no concerts or live events.
Most societal changes and major events tend to also have positive outcomes in various industries. Trying times builds a bridge for change, transformation, and innovation.
As businesses are forced to change their business plans overnight to accommodate our new environment, keeping up the excitement and connection through music and bringing fans and artists closer virtually is the topmost priority.
While the world’s largest streaming service, Spotify, has all the capabilities to drive new artists at the forefront and give them an opportunity to grow, their payout system has a flaw. Along with the payout, the rush of talent Spotify may quickly become stronger and the payouts don’t come near solving lost touring revenue. This is where artist-friendly services like Audiomack and Bandcamp comes in, providing artists a better chance at revenue and growth. Due to these services not being a subscription-based platform, they are able to reward artists in ways others don’t.
While the effects of the pandemic might disappear eventually, COVID 19 may have lasting effects on the physical interaction between artists and fans. Not only will concerts have to approach connecting and interaction but they also have to think about the meet and greets and backstage fan access.
The Sound Of Music
A widespread controversy on social media is that the sound of hip-hop isn’t reflecting the current situation and the state of one’s own country. While many seek hope and opportunity, rappers continuously spit lyrics on money, luxury, and street life, the realities are not reflected through this at all. While unemployment is at a record high and everyone faces new struggles every day if history has taught us anything it is that the sound of music changes drastically and it sure will change once again.
On a positive note, the industry has received and is still receiving doses of funds. Artists like Rihanna and Beyoncé have done their part and thankfully labels like Sony Music, PPL, and Apple Music have also contributed to making sure the industry stays afloat.
While there is a lot of negative news going around, this is the best time for the music industry and the people in it to reflect and improve their creative ventures. Jamaican singer Koffees’ creative process is accelerating, he says “ The creative process is accelerating.
I’ve been able to reflect a lot more on myself and my music and to create more now than I did while being on the road, and I’m grateful for that. One of the positives for me is the opportunity during quarantining to refocus and the time to self-search.”
The music industry has always proven to be flexible and adaptable. Only time will tell the long term impacts of Covid-19. For now, we can all support organizations and donate, in support of those who have lost their jobs in the industry.