We’ve gone through a mighty change in the music business over the last decade or so, and it keeps on morphing and evolving every day. Since these changes are constant, many of the old school rules pertaining to success in the music business no longer apply
The article from Music 3.0, titled “9 Rules For Success In Today’s Music business,” written by Bobby Owsinski, discusses the evolving landscape of the music industry and provides guidance for musicians navigating these changes. Here’s a detailed summary of the key points:
- Scale Matters: Success in the music industry is now measured more by the number of streams and views rather than traditional sales. A few million streams are the new benchmark for success, changing the scale of what constitutes a hit.
- Consolidation of Digital Distributors: The future will see fewer digital distributors due to the high costs of entry and maintenance, leading to a consolidation in the market.
- Value to Others: Success depends on what an artist can offer to promoters, agents, labels, and managers. These industry players are interested in artists who can generate income and attract audiences.
- Delayed Financial Rewards: Monetary success in the music industry often comes slowly, with long-term career stability valued over overnight success.
- Major Labels’ Preference for Hits: Major labels are focused on easily marketable music that can quickly generate streams and views.
- Constant Creation: Artists need to regularly produce new content to keep fans engaged, catering to their short attention spans with a variety of materials.
- Importance of Online Platforms: Online spaces like YouTube, Instagram, and TikTok are vital for reaching and growing an audience, serving as the new radio.
- Organic Audience Growth: Building an audience organically is crucial, with genuine appeal and quality being key to attracting listeners.
- Songwriting is Fundamental: At the heart of success in the music industry is the ability to write great songs that resonate with at least a portion of the audience.
The article emphasizes that making a living from music, rather than achieving superstardom, represents success in today’s challenging industry landscape.
Source: 9 Rules For Success In Today’s Music business – Music 3.0 Music Industry Blog
