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Hypebot readers know Jay Gilbert as the co-host of Music Business Weekly and Your Morning Coffee podcasts, but he’s also an industry veteran and well-respected music marketing guru.
Here is Jay Gilbert’s forecast for the music industry next year.
Through Jay gilbert of Label logic and Your morning coffee
COVER COMES TO LIFE
Motion graphics for song and album covers will gain in popularity as artists explore the medium. Apple recently announced that it has added animated album artwork with iOS 14.3 and macOS Big Sur 11.1. Apple posted “Album motion brings your album cover to life. Animated illustrations provide a richer experience for your audience by helping to set the mood or accentuate the concept of an album, before anyone hits Play.
ARE YOU EXPERIENCED?
More and more artists are getting into the experiential game. Obvious things like Patreon, Cameo, OnlyFans and Thrillz.co.uk generate significant income, but artists get more creative with offers direct to fans, for example:
- Write a song with / for you
- Record a song for you
- Play on your recording
- Handwritten / signed lyrics
- Purchase of records with the artist
- Private zoom sessions (private and with groups)
- Music lessons
- Play D&D with you
- Dinner with the artist
- House concerts
“IT’S NOT ABOUT MONEY … IT’S ABOUT MONEY”
It’s the BUSINESS of music, so developing and middle-class artists will continue to struggle to generate significant income from sales and feeds alone. More emphasis will be placed on innovation in areas such as:
• Tip. Support artists with virtual goods purchases and creative ways to ‘tip’.
• Here is a good example of a creative tip. Where is Walden, group, offers fans the option to “Treat the group with a tank of gas,†â€â€œ Treat the group to a place to stay â€and“ Treat the group with a meal. ”
• Music streaming platform Audiomack recently launched a feature that allows fans to fund artists directly by purchasing “Support Badges†for song and album releases.
- Merchandise
- Premium vinyl
- Live broadcasts
- Editing
- To sychronize
- Brand partnerships
- Social networks and monetization UGC
THE REAR DOOR
Artists will continue to experience audience growth success outside of the traditional label ecosystem. Platforms like Twitch, TikTok, Platoon etc. launch and support more musical careers. Gaming platforms like Roblox will continue to bring new meaning to “go where the party isâ€.
PARITORS ARE FINALLY PAID
Songwriters are not paid when their work is broadcast on radio in the United States. People like Blake Morgan are on a mission to change that with #IRespetMusic and the American Music Fairness Act.
The Copyright Board (CRB) sets the rate that DSPs pay publishers / songwriters (the CRB3 rate has been set at 15.1% until 2022 but Spotify and Amazon are still appealing this decision). CRB4 is already heating up and will come into effect from 2023 to 2027.
The National Association of Music Publishers (NMPA) is fighting for more songwriters. DSPs are fighting to pay less.
THE RUSH TO THE GOLD MRIT
I predict some surprising deals from IP investment and song management companies like Hipgnose, KKR, BMG, primary wave etc. This side of the business is heating up and is not just about heritage artists.
• TVN become standard practice for track and album release cycles. I think you’ll start to see less big standalone tickets and more mainstream NFTs to complement the outings.
• Find more Virtual artist streaming releases and success. The technology to bring these artists into the world of live concerts is there. Who will take it to the next level?
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