The COVID-19 pandemic brought with it a great deal of uncertainty. Live performance and touring ground to a halt, leading many artists to consider throwing in the towel on their careers. If I had made any predictions for the music industry in 2020, I probably would have been wrong about most, because I could not have seen widespread lockdowns coming.
2023 is already shaping up to be an exciting year, though, and there has truly never been a better time to be an artist. But my predictions aren’t all positive. Here’s what I’m predicting for the music industry in 2023.
Doomsayers Will Scream Louder Than Ever
I covered this in yesterday’s article. Sad but true – this is nothing more than a marketing ploy to get you to empty your wallet.
Fear not – there will always be opportunities in the music industry. If someone like me can play over 300 shows in western Canada, be featured on The Antidote and CCM Magazine, and become an award-winning composer, imagine what someone who doesn’t spend the bulk of their day writing articles could do with their music.
This would be an excellent year to get your house in order, but don’t worry about the roller-coaster rises and dips that inevitably play out every single year. Focus instead on growing and bettering yourself, your craft, your fan base, and your brand.
Spotify Will Make Strides in Overtaking the Audio Space
Spotify is working hard to become the go-to destination for everything audio, be it music, podcasts, audiobooks, or otherwise (maybe even live streamed audio). And they are well positioned to do it.
I don’t think 2023 will be the year they completely overtake Apple and Amazon (if this happens at all). But I do think Spotify will be making some strides this year and will be broadening their stable of offerings.
It Will be a Rocky Year for TikTok
Most people in the business are making rosy predictions about TikTok, but truthfully, TikTok has a hard year ahead of them. Take for example this CBC News headline from last month:
U.S. lawmakers introduce bill to ban TikTok
Now, I don’t think TikTok is necessarily going anywhere. The more likely outcome for the year is that some company will purchase the rights to create TikTok North America or develop an entirely new substitute that isn’t China run. But we should not expect TikTok to remain in its current form for long.
Still, if you have yet to set up your own home on the web, you are in a position of compromise. Either create a SiteGround account, Bandzoogle account, or get some expert coaching around building your own artist website TODAY.
Web3 Adoption Will Continue to be Slow & Confusing
Just because we’re in 2023 does not make the confusing and difficult any less confusing and difficult than it was before.
Now, you and I know that Web3 isn’t all that bad, but the majority are not savvy to the extent we assume they are.
I have been sharing a great deal about Web3 based social networks and my ongoing experimentation for a couple of years now. But anything that isn’t push-button fast is at risk of alienating larger adoption, and Web3 just isn’t where it needs to be for it to be mass consumption ready.
Even all the “experts” just keeping saying, “oh, we don’t know – it will be exciting to watch and see what happens.” Thanks, expert. Pretty sure I could have figured that out myself.
I would still encourage artists familiarize themselves with the new ecosystem, though, because it is our future.
Live Music Will Recover & Grow Steadily
You might think this is a safe bet, but out of all the predictions I’ve made, this is the one I feel iffiest about.
COVID-19 set a precedent that the entire world can be locked down in a matter of weeks should there be any new public health safety concerns that drop in our lap.
Assuming there are no worldwide meltdowns, though, live music should continue to recover and grow. Artists and audiences alike will begin to feel more comfortable hosting and going to events.
Final Thoughts
Every year, enthusiastic predictions are made about A.I., virtual and augmented reality, and other emerging technologies. And the reality is, one year is a very short span of time. We’ll probably see some fresh developments in these areas, but not to the extent many think. It will be gradual at best.
I do think 2023 will be a year for great progress though!
What are your music industry predictions for 2023? Which trends only serve to annoy you? Do you think I’m out of my gourd with my predictions?
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