Reports show that the music industry made the most money in two decades. That’s $22.6 billion in revenue and the highest figure we have seen since 2002.
Even throughout 2020, the music industry experienced massive change. TikTok became increasingly more popular, innovations in live streaming concerts were made in leaps & bounds, and people came together to survive. But what will we be able to look forward to once everything is said and done?
It's hard to stray away from a conversation involving the pandemic. The music industry has, unfortunately, fallen victim to the pandemic more than many industries surrounding it. Venues have shuttered and many music industry professionals are out of work. While there is hope for the latter half of this year, we are still in the midst of it all. When will venues be able to open back up? What is currently open and where? Today I will be discussing where the music industry resides during these tumultuous times.
Last week we posted about our pledge to help the industry recover. Part of that pledge includes Artist Republik getting the industry back on its feet. We wanted to go deeper on that topic to describe how we could potentially move forward in this industry. Below, we have a 3-Step process that outlines our goals for doing just that. Let's dig in.
It's February and the world is finally starting to see a glimmer of hope past the pandemic. Many industries have taken a huge hit due to COVID-19 and until the world opens back up, many will continue to suffer. The music industry is no stranger to this struggle. But as we forge ahead, Artist Republik is here to help the industry recover.
It has been a very sad year for music lovers everywhere. When the COVID-19 Pandemic broke out at the end of February, there was still hope for our beloved festivals to at a minimum, come back by October or November.