The Music Business Has Been Booming in 2018

It’s not common knowledge, but for the last twenty years, there has been a decline in music and hits. While some artists were active here and there, it wasn’t as constant as it is now in 2018. If anything, many are thinking that since music has finally caught up to the technological business, the music industry itself is seeing more growth.

Since the catchup, more music is being created and consumed in large masses, which isn’t too shocking when considering artists are releasing songs right after another in an attempt to create more hits and enjoyable tunes. Plus, more artists are incorporating touring into their schedules which has caused fans to buy even more tickets and merchandise which supports the artist on a financial level. Just as a rough estimate in 2015 there was a total amount of 7.2 billion dollars spent on tour tickets and many analysists are expecting that number to rise to 9.1 billion by the time 2021 approaches. Along with the spike in purchasing items, many artists are pairing up with brands along with vinyl’s that are becoming prevalent again.

Streaming Apps

The reason that growth is becoming so present is due to streaming sites and apps where you can listen to your favourite artist along with discovering new ones. Sites such as Spotify, Tidal, and others are ranking up more users who are helping the music industry even more. As an example, Spotify is in the lead as they have over 140 active users and over 50 million paying subscribers. This means that there are even more people listening and getting to know new tunes.

Though with the growth of Tidal, Jay-Z’s music streaming app and site, that number of users who use streaming music tools is only going to grow. On the other hand, though, even prominent companies such as Apple are jumping on board and has introduced Apple Music, which has become a popular app amongst Apple users due to the endless supply of music and the inexpensive cost.

What to Expect in 2018

In 2018 and the years following the music industry is just going to continue to grow in popularity, diversity, and size – which can be thanks to the advancements in technology. As artists continue their growth marketing methods: touring, partnerships, meet and greets, and more. More consumers are going to feel an attachment to the music and the artists – which are going to prompt them to support these artists by buying their merch, music, and concert tickets.

The one thing about 2018 that is making the music scene stand out is that more artists are becoming more creative with their music. Not to disrespect previous artists from other generous that created waves in the music industry, such as Prince, Freddie Mercury, Madonna, Michael Jackson, and many other classics, but the newer artists are given more freedom to sing about what they please with no filters. 2018 is the year that music has changed for the better and the growth in the years following is going to be just as amazing.