What does the future of the music industry hold? While we at Jane Glover don’t seem pretty optimistic considering the downward trajectory over the last decade, there seem to be some great predictions floating around. Here we list some of them.
Rise of Virtual reality
Let us begin on a positive note. The emergence of technology and its application in different industries is a positive trend. Virtual Reality (VR) has been applied in the music industry and its application is ramping up. In the near future, we should be able to watch our favorite concerts and shows for cheap or perhaps even free. Costs of production for concerts will decrease, meaning ticket prices will fall.
Diversity in languages with increased streaming
One of the many reasons why we dislike modern music is its desperate need to appease everyone. It is one reason why foreign artists compose and perform in English, with disappointing lyrics and unnecessary complications. The main reason foreign artists do this is to cater to the North American market, where streaming is predominant and they can get a lot of visibility. With streaming available globally now, artists will go back to basics write lyrics in a language they know best. Again, good news!
The rise of musicals
This one is perplexing. While it is a good trend to go from hip-hop and teen pop to more elegant musicals, the record of recent musicals doesn’t really say a lot. They have been hit and miss for the most of it. There have been good ones such as Hamilton and Les Misérables. These have gathered a lot of attention and have started attracting younger crowds. Hopefully they set the trend for future musicals.
No hope for albums
We don’t really like this scenario, but let’s face it. Albums have been dead for quite some time now, and there seems to be no sign of resurgence. The concept of albums meant musicians could fully release their inner creative juice and compose a diverse variety of music in the same album. Unfortunately, today artists are purely focused on single hits. Furthermore, the rise of streaming services such as Apple Music and Spotify mean there is no market for albums.
They don’t look so bad, do they!? These are some of many permutations and combinations of scenarios the music industry will head to. If we can have one dream answered, it will be the resurgence of albums. Oh well, I guess we are just optimistic idiots.