Despite the spotlight shone in the pandemic having shifted, the rise of the music creator economy is part of a long-term paradigm shift that is reshaping the music business. It started in the late 2010s with the rise of self-releasing artists, was super-charged by the creator economy’s pandemic boom, and is now manifesting with a bifurcation of the music business.
There is now a new, social and creation focused music business parallel to the traditional, streaming-centred music industry. As with most paradigm shifts, it is all too easy to over-estimate the near-term impact while under-estimating the long-term change.
(MIDIA)