The 3 News Stories That Will Dominate The Music World In 2017 – Forbes
This coming year is poised to be a very big one for music considering that the industry is now on track to grow, as was also the case in 2016. The entire music industry had been failing for over a decade, but the bleeding seems to have stopped and revenues are slowly rising. Beyond the upward trajectory, there is a lot going on in the music world, from the expansion of the festival industry to the nonstop flow of new music from superstars to new and exciting brand partnerships. For those covering the business of music, myself included, every day brings something new and worthy of printing, though there are always a few topics that seem to sprout a multitude of stories throughout a year.
Here are three stories that are likely to pop up in the news more than a few times over the next 11 months.
Growth Of Streaming
At the end of every year, reports show how much streaming has grown as a category, and that figure is often juxtaposed against the continuing decline of sales across almost all mediums. While itâs wonderful to see how many songs were streamed on the major platforms over a year, thatâs not the only story associated with the incredible gains enjoyed by streaming sites.
It seems like at least once a month, there is a news item that grabs headlines and shows the industry (and the world at large) just how fast streaming is capturing the publicâs ears. New songs and albums by some of the biggest stars on the planet break records on Spotify when theyâre released, tracks blow past important milestones and streaming factors into the charts in many countries in more important ways than it ever has before.
For example, in 2016, Drakeâs âOne Danceâ became the first song to hit one billion plays on Spotify, and the incredible popularity of Chance The Rapperâs Coloring Book mixtape helped it become the first streaming-only album to hit the top 10 on the Billboard 200. Just last month, Ed Sheeran shattered streaming records (more than once, actually) when he released his two new singles, and itâs possible that his impressive feat will be bested later this year by some other pop star.
Those are just three of the many, many items related to the surge in streams that grows every year. For a long time to come, records will be broken and the numbers will climb ever higher, and at least for now, there is no end in sight.
It seems as if the music industry has been talking about Spotify going public for a long time now, and yet still little is known about when this will actually happen…or even if it will at all. There are plenty of signs pointing to an IPO, and it has now gotten to the point where whenever anything happens at the Swedish streaming company, it is broken down and analyzed, with every blogger and media outlet giving their own take on how the most recent event might matter when it comes to a future public offering. It’s not that these predictions and assumptions aren’t well-informed, and plenty of them might be entirely correct, but tthere certainly are a lot of them.
Between earnings statements, high-level staff coming and going and the goings-on of competitors like Pandora and Apple Music, there is plenty to be excited about when it comes to the worldâs most popular streaming site going for shareholders, but the company is staying pretty mum about it. While itâs not confirmed, many believe 2017 will finally see this happen…but between then and now, there is sure to be a slew of articles attempting to predict what will or wonât happen, and how well things will go.