The music industry is constantly changing, and while there’s no way to fully predict what will happen in the future, insiders have their ideas.
Spotify CEO Daniel Ek for one believes gone are the days that artists would put out records once every few years. Instead, he thinks fans and artists alike are leaning toward a model that constantly engages the audience. Given the current trends in dance music, we don’t doubt it.
He explains in a new report:
There is a narrative fallacy here, combined with the fact that, obviously, some artists that used to do well in the past may not do well in this future landscape, where you can’t record music once every three to four years and think that’s going to be enough.
It’s hard to disagree with his perspective:
The artists today that are making it realize that it’s about creating a continuous engagement with their fans. It is about putting the work in, about the storytelling around the album, and about keeping a continuous dialogue with your fans.
Then again, as of January 2019, Spotify reports that it pays out between $0.00331 and $0.00437 per stream to rights holders, which is a pittance. For a million streams, it’s only $3,000-$4,000 and only a fraction of artists will make it that far.
In dance music, we already see trends of singles and EPs to make for more consistent releases. Perhaps other genres will take note.
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