The music industry is always changing and there has been a massive transformation within the scene in just 10 years. In 2011 or 2012, people were still listening to their favorite music on iPods or hitting the stores to purchase the physical copy of the latest album of their favorite artist.
Now a decade later, iPods and CDs have lost their charms and have been wiped out of the market due to various streaming platforms like YouTube, Spotify, SoundCloud, and more. Let’s talk about what are the things that have changed in the music industry in the last 10 years:
- Streaming dominates the industry
A decade ago streaming music online was a distant dream. But now, the world cannot go a day without using their favorite streaming platform to get their daily dose of music. With streaming platforms music industry has been able to overcome the decline of nearly two decades that has been caused by music pirating. Now, with Spotify, YouTube, TIDAL, Apple Music, Pandora, SoundCloud, and more, the music industry has accumulated music revenue of a total of $25.9 billion.
- Physical copies are no longer a trend
A decade ago buying CDs of your favorite artists was a completely normal thing to do. Nowadays, the number of people who buy physical copies of music is extremely low. Most people stream their music or digital copies of the latest albums. Streaming is responsible for nearly 80% of the total revenue in the global music industry while CDs make up only 9% of the total music industry revenue.
- Surprise drop is the new big thing
A surprise drop is when a musician releases an album without any prior promotion or marketing. As the fans have no idea about it beforehand, it comes as a total surprise to them. Beyoncé was the first to do it when he dropped her eponymous fifth album in 2013. It was a massive success in her career. Selling more than 5 million copies globally, the album won a Guinness World Record for the fastest-selling album on iTunes.
- International artists are extremely popular now
In the United States, only English language music was the most prevalent a decade ago. But that scene has changed a lot over the years. More and more international artists and bands are becoming extremely popular among the fans. Popular K-pop bands BTS and Blackpink have generated massive international fame becoming a phenomenon among their huge dedicated fan base. Musicians Luis Fonsi and Daddy Yankee from Puerto Rico broke various records after their major 2017 hit, ‘Despacito’. The music video has more than 7.8 billion views on YouTube.
- Vinyl has made a comeback
Vinyl records have made a huge comeback. They have made up nearly 17% of the total album sales in 2019 and the number is only increasing every year. Even during the pandemic, the sales of vinyl records increased around 45% from the previous year. Many contemporary artists are still releasing vinyl versions of their music alongside digital copies and streaming. Jonas Brothers even have their own vinyl ‘club’ that can be joined by the fans.
- Music is mostly listened through mobile phones
A decade ago, listening to music was mostly done with iPods and CD players. But now a smartphone is all people use to listen to their favorite music. All the streaming platforms are available on phones and it is easier to navigate them through their phone application versions. All you need is AirPods or headphones to pair up with your phone to listen to the music.
- Artists are using their platforms to do good for the society
Musicians have a great hold over how society thinks. Musicians these days are using this power to do betterment in the world. Taylor Swift advocates for the global LGBTQ+ rights in her 2019 single, ‘You Need to Calm Down’. Beyoncé used her 2018 Coachella performance to pay tribute to the black college and university culture.
- Broadway is at its greatest heights
Original Broadway music recordings have become extremely popular these days. Popular musical ‘Hamilton’ broke all the previous records by topping and staying in the position within the top 40 for more than 145 weeks on the Billboard 200 chart.
- Genres have been blurred
In 2022, there is no specific genre that the artists follow. They have become flexible enough to mix and master various genres together and come up with excellent acoustic pieces. Lil Nas X collaborated with Country artist Billy Ray Cyrus for his country-rap number ‘Old Town Road’.
- Iconic artists have entered the scene
In the last ten years, the music industry has been graced with multiple iconic artists who have been creating timeless music that will be remembered for a long time. Artists like Lady Gaga, Childish Gambino, Kendrick Lamar, Billie Eilish, Lil Nas X, and more will surely be a part of the history of the music industry.
