10 Music Industry Predictions for 2022-2023

We made it. I’m so proud of you. Though so many things in our creative world have changed in the last year, one constant is that I’m bringing you my annual list of music industry predictions for this coming year.

NFTs Will Become Artist Merch

I can’t talk about 2022 without mentioning NFTs, can I?

While I might not have jumped on the NFT bandwagon myself yet, I can understand their appeal so the same kinds of fans who would buy high ticket, one of a kind merchandise from their favourite band or artist.

Strategy: Whether or not you plan on delving further into the world of NFTs, take a look at where the Venn diagram of NFT investors and your ideal fan meet, as these are people with he characteristics of super fans.

The Slow Demise Of Music Conferences

A former self-professed “music conference junkie,” I’ll admit in the last year or two of attending big music conferences in hotels across North America I became disillusioned with them.

Maybe evolving from artist to businessman was to blame, maybe I had been spoiled by access to industry veterans in all sorts of other ways. Instead, where the magic happens isn’t by taking notes of powerpoint presentations in the partitioned ballrooms, but instead by the people you meet in the halls, the elevators, the lobby coffeeshop, and the deep, intimate connections formed with one or two fascinating creatives.

Therefore, when the pandemic hit and all conferences moved online, these events were striped of the human connection, and all that was left was Music Industry Guru Course Informercial Parade™️.

However, with the world opening back up again, I think we’re going to see our sector take a leaf from the world of life coaches, and rebuild something smaller, but far more powerful from their ashes. Boutique small group retreats with an intense focus on one theme, where artists can workshop, learn from the best, and build lifelong friendships will be the new music conference.

Strategy: Hone in on what you want to learn this year. It’s easy to get “shiny object syndrome” and chase a million goals at once, but by picking one or two areas - sync licensing, Instagram Ads, starting a podcast… You’ll know what to look for and get the most of the opportunities that come your way.

Skincare Is The New Weight

Gotta give credit to Chelsea Fagan for this one. On her YouTube channel, The Financial Diet, she has put forward the theory that as our society makes great strides into acceptance of bodies in different shapes and sizes, the next frontier of visually displaying health and wealth is the state of our skin.

From celebrity beauty lines, to the sharp rise in 20 somethings getting Botox, we’re poised to have acne, aging, colouration and dryness be the stress in our mirror, the way numbers on a scale were for the generation before us.

What does this mean for artists? Perhaps twenty years ago, where a (likely female) vocalist may have been passed aside for her size, this decade it will be for her imperfect skin.

Strategy: If you, like many of us, feel insecure about your skin, save yourself the time and money of following endless beauty guru / sales associate recommendations, and invest in seeing a licensed dermatologist.

Artists Will Bring Their Side Hustles Into Their Brand

Every professional creative I know leverages multiple streams of income in order to pay their bills.

Lots of times, they make total sense and can be branded and cross promoted between themselves - a performer who also designs birthday cards, is a booking agent, or teaches music lessons.

However, for the longest time there seemed to be an unspoken rule that if one source of money was too different/not “cool” enough, it was never mentioned in present tense. You didn’t see too many instagram stories about artists telling stories from their shifts as baristas, accountants, or museum tour guides.

I can’t possibly be the only one noticing the subtle shift - and being delighted by it.

Strategy: The more open and transparent the creative community is about how they pay their bills, the better we can encourage each other, demand to be paid our worth, and have great stories to tell to our fans, make us even more relatable.

The Zombies Are Coming…

I’m sure you’ve read headlines in the last little while about legacy artists selling their catalogs for oodles of cash to investors - Bruce Springsteen for $500 million, Bob Dylan for $400 million, Stevie Nicks for $100 million… Cool, cool.

Well, Capitalism 101: investors don’t invest in things they don’t see way of making a profit off of. These firms are going to want to get their money’s worth and more.

Imagine competing for bar gigs against holograms of Elvis. Or deep fakes of Michael Jackson streaming on Twitch. These legacy artists have built brand value and worth from songs everyone knows… So what are you gonna do, especially as a cover band?

Strategy: You can’t win when imitating the original. If you’re going to play cover songs, create unique arrangements of them that make you special.

Van Life Meets Touring

“Van life is an alternative lifestyle adopted by many nomads looking to live a basic lifestyle, while being able to travel the world with freedom and ease.” - Project Van Life

What do you get when you take a generation of minimalists who seek small, exclusive experiences, and indie artists who can build fanbases over the internet?

A new type of cross-country tour. Consider it the Get Z version of the Grateful Dead, die-hard fans following a niche band on the road, as they play open air festivals and camp out under the stars.

Strategy: If this is something you foresee doing in the future, switch to a bank that offers loyalty points with gas stations.

Indie Artists Start Text Message Marketing

For the last couple of years, you’ve probably experienced major brands texting you promo messages. Major labels have started doing it with their artists as well. And now that the infrastructure is accessible and affordable en masse, indie artists can start connecting with their fans via SMS as well.

Strategy: Get a specific business phone number just for promo. It’s a tad write-off, and protects your privacy.

Country Music TikTok Brings Back Line Dancing

Country Music as an ecosystem has long had the reputation of being digitally fluent. However, in the last few years, even this genre hasn’t been immune to the hit song launcher that is TikTok.

But they’re just getting started. Don’t forget that country music has a long proud history of group dances. As soon as its artists become at home on TikTok, their songs will be unstoppable.

Strategy: Country artists, start choreographing and filming dances to your music.

More Artists Will Advocate For UBI

Three years ago, I wrote an article advocating for UBI - universal basic income - as a way to replace the grant system and usher in a new artistic Renaissance for cultures that implement it.

I was promptly called all sorts of names (none of which appear on my passport) by Reddit users.

In the wake of the pandemic which forced tours to be canceled and so many performing artists - as well as the ecosystem of jobs they create - to lose their source of income, creatives in countries that deployed financial assistance for The Arts may send in their apologies any day now ;)

Seriously though, Canada, where I’m based, proved its commitment to culture by sending $2,000 a month to full-time artists and professional creatives out of work for more than a year to give them enough slack while pivoting business strategies in this new normal. I have yet to talk to an artist who wasn’t grateful.

Strategy: If you believe that a society that places value in art is worth being a part of, research your government’s stances on UBI and vote accordingly.

The 2020’s Will Be The Decade of Self-Actualization

You can’t build a house on a shaky foundation, and we’re building empires here. As the last few years have shown, good mental health and personal growth goals are the most important building blocks of a long-term career as a self employed creative professional, technical skills a far second.

Strategy: Take care of yourself. You are your own greatest asset and investment.