Making Music In 2022? Big Changes Ahead Part 1 |
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Jan 13 2022, 11:35 PM
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We have seen a lot of change in the past couple of years. That trend is set to continue. As we enter 2022, let’s take a look forward and see if we can fine tune our crystal ball for the good of all of our members.
Everyone here at GMC is a musician. Thus we make music. We then share that music online, typically. We use the traditional methods of distribution, e.g. youtube/spotify/soundcloud/etc. These methods of distribution, just like the interwebs themselves, are in a state of perpetual flux. So having an idea of how the coming year may provide challenges and changes is something worth thinking about. The biggest change we have all endured over the past couple of years stems from the global pandemic that we have all had to endure. The impact of this event can’t be over states. It has changed just about everything and not always for the better. Certain changes that were in play were accelerated due to the pandemic. For example, many artists saw their entire back catalog bought and sold. Sometimes, without their knowledge or permission. Due to market forces, legacy catalogs became more and more liquid as concerts dried up, “owning the masters” quickly became an important revenue stream. As crypto continued it’s march to glory, NFTs (Non fungible tokens) arrived as a way to monetize music and artwork. Live streaming became more important than live events as live events all but stopped for a time. These changes reflect the realities of a business struggling to find it’s way in the mids of enormous technological change all during a global pandemic. It’s a good example of the fact that there is no one single way to make money in the music business. Now more than ever one has to adapt or die. So how does an indie musician make money? Let me count the ways. Now that streaming has replaced traditional distribution in all forms of media, it’s critically important that the distributor you select (CD Baby etc.) has the ability to monetize your music across as many platforms as possible. As you research which distributor to go with, make sure you pick the one with the most reach in terms of platform distribution channels. This can help maximize revenue. As the pandemic continues to keep us locked in our home studios, lets look at the bright side. International collaborations are way up. We have a bit of time to connect with other musicians from all over the world and collaborate on music that can cross pollinate our respective audiences. I myself have joined a German Metal band. I’ve never been to Germany and may never go, but the interwebs have allowed me to collaborate beyond borders. Embrace every chance to collaborate with others, no matter what the style or circumstance. Be proactive and seek out musicians to collaborate with. Try to punch upwards if possible. Collaborating with artists who don’t have more followers than you won’t help all that much in terms of views. Try to collab with artists who can share their audience with you. Even if you have to give a little something for the opportunity. It can lead to new ears for your music and new dollars for your wallet. HERE IS PART 2 OF THIS ARTICLE WITH FINAL CONCLUSIONS AND PREDICTIONS https://www.guitarmasterclass.net/guitar_fo...showtopic=62697 This post has been edited by Todd Simpson: Jan 14 2022, 05:30 PM |
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