Streaming is Changing thanks to the Pandemic
Source: seventyfourimages
Music Industry Monday

Streaming is changing thanks to this Pandemic. It is unfortunately very hard not to talk about it when it has affected the music industry in such a profound way. As I mention in my last article when COVID-19 started taking over the mainstream media we all still believed that our beloved music festivals would be back by the end of Summer. Or at the latest, early Fall. Now with everything being pushed back into 2021, the music landscape has changed so much it’s hard not to believe that things will be changed forever.

Live concerts & festivals are the bread & butter for many artists trying to make a livable wage with their art. But now as we wait to get the go-ahead from government officials, we have had to turn our ears in another direction…streaming.

Disclaimer:

Now when I mention streaming, I am primarily referring to audio streaming on platforms such as Spotify, Apple Music, Tidal, etc…

Is Streaming Doing Okay?

When the world shut down back in March, we didn’t stop listening to music. Although it is interesting to note that during the first major week of self-quarantine, an analytics company named Alpha Data reported that streaming numbers in the US fell about 7.6%. It’s kind of odd when you think about it. People were stuck inside with nothing else to do. The majority of that 7.6% were likely people who streamed their music during their daily commutes or while they were at the gym. Suddenly being stuck at homemade people less likely to hop on to their phone’s streaming app of choice.

Spotify has also reported a significant change in their user’s activity across the platform. It has been reported that daily habits are more reflective of weekend streaming consumption along with a rise in the popularity of relaxing genres. Not so surprising if you’ve been stuck inside with your insane family for months on end.

On the other side of the coin, there’s also not a lot of new music being brought to many of these platforms. Many of your favorite artists have likely pushed their release dates to later in the year (or longer) to properly market those releases with live tours or through other means. This has effectively reduced the demand for streaming services, putting more strain on the already fatigued industry.

Streaming is changing by the many factors that play into this scenario. But at the end of the day, the inability to perform in front of live audiences has created a domino effect that has spread as far as streaming and beyond.

What Does the Future Hold?

With things being so uncertain, it’s hard to say. But I can assume one thing for sure. That the world of music streaming is about to grow even more than it already has over the last 5 years. We have already seen different formats for streaming music pop up since the Pandemic started. We got a Travis Scott Fortnite Concert. TikTok hosted a streaming party for The Weeknd. Many new & creative minds are coming together to formulate new & exciting ways for all of us to consume the sounds that take us into new dimensions.

On a personal note, I don’t believe that the music industry needs to be reliant on live shows to survive. Many people believed that streaming would destroy the music industry once they wiped out physical records & CDs, but we prevailed. People also didn’t think that men could land a rocket ship on the moon. We did that too. All that I am saying is that there is always going to be hope. We are all going to get through this thing together. We will come out on the other side with new insights & new, creative ways of entertaining the masses. Streaming is changing, but not for the worst.

Music Industry Monday

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