This week, we talk about the trends emerging from new habits and possibilities given by tech. From ChatGPT to the walkman, let’s see what we have in store!
#1. ChatGPT and the music industry
Okay, we’ll bite. Everyone has something to say about ChatGPT, so let’s dive in. If you haven’t heard about it yet, it’s the new Open.ai release, that basically can write for you. Ask it anything; to write an article about quantum physics, a recommendation letter or… ask it the best way to promote your music?
That’s what MIDiA Research talked about this week (among other things of course): what if ChatGPT was helpful for independent music? Yup, you could rely on an AI to give you the main steps to develop new projects, new artists or give you propositions of texts to use. Sure, it’s not perfect, and no, it won’t replace anyone. But the technology sure seems interesting in developing automated ways to develop projects, while focusing on creative tasks.
#2. YouTube Shorts follows in the path of ad revenue share
YouTube Shorts will be starting to share ad revenue between Rights-Holders and content creators in February. Alphabet, the parent company, announced this on their support page, as a new evolution of YouTube Shorts, almost a year after their creation.
Alphabet's move follows that of Meta, which announced six months ago that they would be paying artists and music Rights-Holders revenue from the use of their songs in user-generated video content on Facebook.
#3. The streaming model (still) has to be redefined
“This year, [UMG] will be working on the innovation that is absolutely essential to promote a healthier, more competitive music ecosystem, one in which great music, no matter where it’s from, is easily and clearly accessible for fans to discover and enjoy.” This was in the New Year’s internal note of Universal Music Group’s CEO Lucian Grainge. On his radar, the music streaming model, highlighting the lack of connection between artists and the platforms, not offering enough engagement and financial retribution.
In the meantime, data from Nielsen Music/MRC Data have shown that the number of on-demand audio streams has risen to an all-time high (12% year over year). But this means that the music industry is more fragmented; approximately one in every 250 tracks streamed was one of the top 10 hits in the US. This is an all-time low. So here we are with a large number of songs being streamed, but none of them reaching a very high level of popularity.
#4. Some trends to look out for
So it’s not fully related to the music industry and more about tech platforms. But since they are essential to our activity, it’s vital to keep an eye on them. The Verge has covered some of the trends we thought about for 2022 thay may or may not have become true (hi privacy in tech), and has its share of potential ones for 2023. Give it a read to stay up to date!
#5. Back to the MP3 player
In an almost full digital era of music, Sony has launched a new Walkman MP3 player. A refreshing take, potentially addressing a strong basis of audiophiles looking for better quality of sound and ownership of their music.
The new Walkman MP3 player is available and it will be interesting to see if it can gain traction among music enthusiasts. Let’s see how the bet goes!