https://www.traxfly.com//files/editor/blog/2022Y.jpg

Another Year Gone - What's the Future of Music in 2022?

  • 2022-01-02
  • Ridley Lucas

Another Year Gone - What's the Future of Music in 2022?

Music is an essential part of many people's lives. Songs can be used to signal a mood, mark a significant life event, or simply provide some background noise while you're working on something else. Music has immense power over us. While the trends in music are constantly changing, it's hard to imagine what will happen in 2022. Global News' Allan Cross has come up with some possibilities for what the future of music might hold.

TikTok will become even more of a monster when it comes to music

Once TikTok struck licensing deals with the recorded music industry, the platform — now the third-largest social media network on the planet — became a huge source of revenue for labels and artists. We’ve already seen dozens of performers who blew up this way, including Olivia Rodrigo, Doja Cat, and Megan Thee Stallion. And success can come out of nowhere. Vancouver’s Mother Mother has a song called “Burning Pile” that was the sixth most-popular alternative/rock TikTok track in the universe in 2021. They released that song in 2008.

Streaming’s dominance will continue — but not as you might think

Canadians are reliably streaming more than two billion songs a week now with on-demand audio streams ahead by nearly 13 per cent over 2020. Older folk who grew up with physical media are slowly getting into the game, especially when they realize how easy it is to instantly access virtually every song ever recorded from wherever they are. And they don’t want the new stuff, either. While the Drakes and The Weeknds of the world get all the press for being in the Spotify Top 200, the truth is 66 per cent of all streams are of songs more than 18 months old. That’s where the real growth lies. Watch for streamers to push older music more and more.

Streaming royalty payments will slowly change for artists

The buzz phrase is “artist-centric royalty payments.” This is a process whereby if you have a subscription to a streaming music service, your monthly fee will go to the artists you listen to. That’s how Spotify and Apple Music work now. At the end of each month, they look at which artists had the biggest percentage of streams and distribute revenue based on those percentages. That means the money you pay most likely doesn’t go to the artists you actually listened to. The superstars keep getting more super while niche artists get hurt. But now that SoundCloud and Tidal are getting into the artist-centric headspace, there could be a shift to this new and more fair form of artist remuneration.

Alan has more predictions. Check them out here.

Alan Cross is a broadcaster with 102.1 the Edge and a commentator for Global News.

Content quoted in this story is from Alan's original article.

Category: Digital Music Distribution Trends