R&P Post 6: Current trends in popular music

After having done research, I notice some huge changes within trends in popular music, as well as some clear consistencies. I can see major readjustments occurring in terms of the structure of the industry, however genre tastes seem to have remained fairly constant.

The Industry



Firstly, there is a gradual revolution occurring agains the traditional music business model. Artists and publishers alike, are stepping away from record label conglomerates and are taking control themselves, thanks to sites like Kobalt. This independent online publishing company now offered labels, managers and artists user-friendly analysis tools, which makes it easier for them to review and understand all their varied income, and as a result take control of their music. This is now starting to catch on and artists such as Lenny Kravitz are trying it out.

A photo I took of
'The Weeknd' image filter

In addition, companies that have the ability to distribute content are seeking to partner with music owners. One example of this is between Sony Pictures and Snapchat; who are interested in forming coalitions with the online video channel VEVO. Furthermore, Snapchat are also providing a differe

nt route for artists to share their music and music videos (in competition with VEVO). In May 2015, electronic musician Josh Legg, aka Goldroom, premiered four music videos on the app. The experience included a message from Goldroom and then requires Snapchat users to swipe through clips until reaching the music video. In my opinion, this move represents a new, low budget way to connect with fans, as well as an effort to try and reinstate the significance of music videos.

As a Snapchat user and music consumer, myself, I also noticed this symbiosis start to occur. The first example of this is when 'The Weeknd' was playing live at the apple music festival and there was a image filter made available, denoting this.

Streaming is another aspect of the music industry that is beginning to change. In the wake of Taylor Swift pulling out her catalogue from both Spotify and Deezer, the industry has been left divided over whether streaming benefits the artists or not. With some arguing that you just have to get creative with other forms of advertising on these streaming sites, whilst others are certain that paying for the music before the consumer listens is the only lucrative business model. This debate is crucial to current trends in popular music, as it could potentially completely change the ways in which we consume music.

One of the most surprising recent trends has been the vinyl revival. Nearly 8 million old-fashioned vinyl records were sold last year, up 49% from 2013. In November 2014, it was reported that over one million vinyl records had been sold in the UK since the beginning of the year, sales had not reached this level since 1996.  Professionals have been shocked at the revival of this old trend, but as can be seen from the graph below, it shows no sign of stopping.

The Audience

In 2014, there has been some re-adjustments in the way the UK audience consume music.

Firstly, album sales generated £713m last year, compared to £773m in 2013 - a decline of 7.8%. Meanwhile, singles revenue went from £168m in 2013 to £142m in 2014, representing a 15.3% slip. However, the  value of streaming soared in 2014, with revenues of £175m easily surpassing 2013's £106m - a £65.1% increase. Furthermore, the number of audio streams from digital services such as 'Spotify' and 'Deezer' doubled. Through analyzing this data, I have a better understanding of what is selling and what isn't, but it has also taught me that my album would need clever marketing and packaging in order to be successful.

Secondly, in the genre market, Pop music overtook rock as the UK's most popular genre by album sales, holding its biggest market share since the late 90's. It is for this reason that I think creating an alternative-rock band with wide appeal would be a great way to revitalize the rock market whilst also interesting some of the pop fans. In addition, rock music's share of the singles market grew to its largest in four years, to 24.3%, meaning a single from a debut rock band would have the potential to do well.