6 Trends Reshaping the Music and Entertainment Industry

entertainment industry

Every decade, we experience a shift in the music industry, and 2021 is no different. Since people spent more time indoors because of the global pandemic, they devoured music and entertainment that came their way. The entertainment industry has translated into a massive business from binge-watching shows on Netflix to endless hours of streaming on Spotify. 

Besides Apple iTunes and other modern forums, people have developed an interest in cassette tapes, boomboxes, etc. After all, the catchy one-hit tracks and girl band phenomenon of the 90s are never going out of fashion. Hence, we have to understand that the future of music in the digital age is unpredictable. Similar to live music and concert tours, social media live streams have gained immense popularity this year. 

So, what can we expect from 2022? This year, we will be listening to music evolving genre of sounds. Likewise, the integration of technology will give personalized recommendations, improving the listening experience. However, that’s not all. Here we are highlighting six trends reshaping the music and entertainment industry. 

1. Live Concerts 

For music enthusiasts, 2020 has been the worse year on record. Festivals, reunion tours, and concerts were called off due to the pandemic. As things are returning to normalcy, we can reimagine live entertainment this year. The music festivals in Coachella and Stagecoach have already begun, so brace yourself for a year full of enjoyment. If nothing is happening in your region, why not plan something by yourself? Perhaps, you can invite a reputable singer and host a concert. 

As teens have been obsessing over Golden hour, call Kacey Musgraves for a concert. First, find a booking agency for Kacey Musgraves and check her availability. After all, you have to plan the event considering the singer and audiences’ convenience. Second, create an event on social media and start selling tickets online. People are craving physical, entertaining experiences, and this concert could be the perfect retreat for everyone. 

2. Algorithm-Based Music Recommendations

Today, we can get digital music through all of our electronic devices by only giving an instruction. But now, we won’t have to do that either. For every online search we engage with, the servers collect data. Depending on our preferences and listening history, AI-based algorithms recommend us music. With Alexa, you can instruct the device to play you a song. According to the time of the day, your mood, or other artists you have listened to before, Alexa will start playing music. 

The same type of algorithm applies to video streaming forums. The algorithms predict what the user would be interested in and feeds fresh content. The device also adds new artists to the list from time to time to explore new things. The goal of these smart devices is to increase the streaming time and reliance on these platforms. 

3. Social Media Livestreams

Previously, fans had to wait for the announcement of a multi-city tour to experience the latest albums. But now, everything is almost a click away – all thanks to social media forums. Social media’s video streaming forums and sharing capabilities have done wonders for musicians. It has provided an opportunity to connect with their fans in real-time through live streams. 

Whether an artist wants to give an insight into a new album or conduct a raw performance – they run online events. Social forums such as Facebook, Instagram, YouTube, and other channels allow millions of people to come together virtually. In short, technology is changing music today. Fans can also connect with their favorite artists on a personal level through a variety of forums. 

4. More Streaming Consolidation

Truthfully, the streaming industry is becoming more saturated with every passing day. According to a research study, 78% of households have a subscription compared to 52% in 2015. For this, the credits go to the Covid-19 pandemic. It accelerated people’s willingness to test different entertainment options. Some consumers binge-watched Netflix during the lockdown, while others were hooked to Spotify and iTunes. 

In simple words, the barrier between content and distribution channels is fading away due to increased content consumption. Therefore, the streaming companies have started to form alliances to keep the consumers hooked. It means they are acquiring additional content to boost revenue streams and the subscription rate. On the customer’s end, it will save them a lot of money. After all, one expensive subscription will be cheaper than two separate standard ones. 

5. Visual Albums & Documentaries 

Nowadays, many people are interested in the music-making journey, background information, and personal insight when listening to music. Hence, this is likely to be a famous avenue in 2022. The visual element in music would introduce another genre of storytelling, developing a better connection with the audience and fans. In addition, it will capture the audience that already exists on the music streaming services. 

Moreover, the artists are also documenting the behind-the-scenes look of their album. It helps put more context to their production, inspiration, and process, allowing fans to relate to videos. If we talk about the practicality of this concept, Lady Gaga, Shawn Mendes, and other artists have released these documentaries and visual albums. Therefore, we would be seeing a lot of visual media in terms of music in the years to come. 

6. Rising Opportunities for Disruptive Insurgents 

Tech giants such as Apple and Warner Media are shaking up the video subscriptions marketplace. They are making every possible effort to differentiate content but little to improve user experience. When was the last time you saw a new feature on Netflix? Probably, ages ago. Similarly, except for layering out podcasts into the music, the overall experience has been the same. As innovation seems to be fading away, it is creating an opportunity for disruptive insurgents

They can pick a target audience where they don’t have to cater to older, mainstream audiences. All in all, the goal is to focus on disruptive innovation instead of sustaining innovation. For instance, you can launch a music streaming forum integrated with video graphics. Perhaps, allow customers to make reels and podcasts while jamming to their favorite songs. 

Final Thoughts

After a halt to live entertainment, people are waiting to have in-person experiences. In addition to concerts and festivals, we will be witnessing a lot of tech-integrated music. From algorithm-based recommendations to live streaming forums – the digital age is changing the music experience. Likewise, the entertainment industry is opening doors to new disruptive innovations that can take customer experience to another level. Hence, we will witness a lot of evolutions in the coming years.