The music industry continues to evolve and push boundaries each year. 2024 will bring key trends that will reshape how musicians create and how music listeners consume. Here are some valuable insights into the latest music industry trends for 2024.
1. Music Streaming Services
Streaming services have disrupted traditional music distribution methods by allowing users to interact with music digitally. In recent years, we have seen a cultural shift in the way music is consumed. Streaming services and social media play major roles in influencing how music can be experienced and accessed. The music industry is being redefined, and the consumer experience is split into two parts—passive listening through streaming services and active playing of music on social media via engagement and interaction.
The creator economy thrives and has an important influence on cultural values. This fuels the cultural shift of the music industry towards social media. Users are more likely to discover music via social media, through viral challenges and trends, rather than through streaming services such as Spotify or Apple Music. Social platforms such as Instagram and Facebook are no longer just tools for marketing music but a whole new way to consume music.
Music streaming platforms continue to be the most popular way of consuming music and are gaining more users. As mentioned, most young listeners stream music passively as background music. This creates a distance between artists and listeners. It dilutions the fan base as there is less focus on what is being heard. The first 10-15 seconds are crucial, as they determine whether or not a song will be skipped.
The popularity of short-form content and its ease of use for both creators and viewers has contributed to this trend. These videos are easy to make, but they’re also simple to share and consume. They’re a great way to discover new music. Fans can create their content and share it with other fans to help artists generate buzz and traffic around a release. This can lead to artists spending more time on social media and prioritizing posting over making music.
2. Home studio – trends in the recording industry
Anyone interested in creating music can now create their tracks with the increasing availability of tools. Music creation has become more accessible thanks to affordable tools. Anyone can now experiment with music creation and share their work on social media. This has led to a rise in the number of bedroom producers, as music is now being produced in new ways and without expensive industry equipment. This new generation embraces music creation regardless of background. They push boundaries created by geographical or financial barriers and challenge the traditional gatekeeping practices of record labels. The trend has been increasing for some time, but it is expected to continue growing with the advent of generative AI.
3. AI Will Replace Humans
Artificial intelligence (AI) is a controversial topic in music. A long-running debate has been centred on the implications of AI music. The discourse goes along the lines of AI replacing human art, stealing jobs and replacing all your favourite artists. The trajectory of AI in a rapidly changing world is not known. What is known, however, is that AI is creating new opportunities for creativity.
AI is often misunderstood as a way to replace musicians, but in reality, AI cannot replace human creativity. People want to see and hear real people. Human creativity is valued. The increased demand and desire for live performances is evident this year. The Record Industry Association of America has also filed a lawsuit against AI firms Suno and Udio. They create tracks that sound like copyrighted songs without the proper licensing, and they use machine learning to make music, which drowns out human artists. The discussion opens up on the ethics of AI music creations and how they can exist without ethical and legal implications.
AI’s future lies in its ability to enhance musicians’ creative processes rather than encompassing all creative industries. AI is a digital tool that can be used, just like other instruments, such as samplers and synthesizers, that were once considered new technologies.
Soundverse, for example, can provide a solution to ethical AI-generated music where human artistry is blended with technology. Musicians can use this creative catalyst to transform the way music is created. This use of AI empowers and encourages collaboration projects that embrace human creativity to create unique sound designs and inspire creative processes.
4. Genre Fluidity
Artists are increasingly accepting of genre fluidity. Even your favourite artists are stepping outside the genre boundaries. This trend, which is growing in popularity, is changing the music industry. As genre boundaries are dissolved and musicians experiment with different influences to find success, this trend has reshaped the industry. The genre-mixing not only opens up new markets and audiences but also allows artists to experiment with new sounds and styles. Silk Sonic’s collaboration of soul, R&B and funk shows how musicians are pushing boundaries, leading to new sounds that break from genre conventions.
5. The lyrics and songs are becoming simpler
The lyrics are seen as a reflection of society, reflecting cultural values and emotions. Recent research revealed that over time, lyrics have become simpler, with less vocabulary, more readability, and complexity. Popular songs tend to repeat the same lyrics in choruses. Introspective lyrics are also more common, with words like “me” or “mine”. This could indicate that self-centred values have become more prevalent. These lyrical trends could be a reflection of the shorter attention spans of people and their egotistical views as a result of increased social media use.
Songs are also getting shorter. In the last 30 years, the average song length on the Billboard Hot 100 dropped from four to three minutes. In some streaming platforms, like Spotify, the music industry rewards short songs. Artists must meet a playtime threshold for their songs to receive a payout. As mentioned previously, streaming services are becoming more and more resistant to attracting audiences. Spotify listeners skip songs in the first five seconds, and 50% of them skip songs before a song finishes. This encourages artists to create shorter songs, as they will receive a revenue stream.
6. Physical Music Formats
In 2024, 59% of 18-24-year-olds will listen to physical music releases. This shows a trend for Gen Z to enjoy analogue music. Gen Z may be influenced by their love of nostalgia, which can be seen in their consumption of art and culture. Just look at the resurgence in Y2K aesthetics and fashion. This shift could be explained by the broader fascination with “retro”, “vintage”, and music in general. Vinyl records and cassettes offer music lovers a tangible way to experience music from the past.
