The music industry has a gender problem, the division of streaming revenues is increasingly contentious, and there are a number of artists who are now choosing to work independently. Here, AIM chairman Ed St John, breaks down the biggest trends driving and shaping the music industry, and what this means for the future.
The Australian Institute of Music (AIM) last week published a report which mapped emerging trends in this highly dynamic market, and helped define the skills and knowledge that will come to the fore as the future unfolds.
We’ve identified seven mega-trends that will shape the future of music in the next five years. These are trends that anyone hoping to work in music, in any capacity, will need to understand.
The global music business is evolving, rapidly.
New technologies and trends are emerging at dazzling speed, forcing all participants to re-assess the way they do business. The COVID-19 pandemic has introduced a new set of variables, dampening progress on some fronts whilst accelerating the rate of change in others.
A new generation of change-makers are taking control of the industry as some of our most legendary titans inevitably recede. We are living in interesting times.