As somebody who works in live venues and has kept a close eye on the Canadian music industry for the past several years, I am fascinated and concerned with what the future holds for an industry that can no longer depend on a physical product (albums) for revenue. This topic was discussed in an Eventbrite discussion out of Spain that I attended online this afternoon.
Social media and music streaming platforms have changed how music is consumed and discovered, with TikTok providing exposure to musicians and algorithms on sites such as Spotify largely deciding what we listen to. This panel also discussed the creator climate. These sites have made it so easy for anybody to create content that the market is saturated, and nobody really knows how to get recognized by the algorithms. Panelist Raul Guerrero discussed the attention economy, where our attention has become a type of currency that we divide between many different things at once. As described by Guerrero, “The good thing about music is it can be consumed while doing other things. You can’t passively consume a video game.” This makes it easy to consume music but draws a blank when considering where the revenue for that music will come from.
I found this conversation incredibly interesting. This was my first time attending an online event like this, but I’m excited to think that there are all sorts of conversations happening all over the world that we can now participate in from anywhere.