The Covid-19 pandemic has affected every part of society, and the music business is no exception. This document highlights the key ways that the music industry has changed during the Covid 19 era, whether temporarily or perhaps more permanently.
Live Music
Concert cancellations sparked a surge in live-streaming on platforms like Zoom, Instagram, YouTube, and Twitch. Key initiatives included:
- Fortnite hosted a Travis Scott concert with 30M live viewers.
- Mixcloud Live launched a licensed DJ streaming platform.
- Laura Marling’s ticketed, geo-targeted shows proved Pay-Per-View’s viability.
- Cuarentena Fest gained international attention, while platforms like Noonchorus and Boiler Room hosted free events with artist tipping.
- Artists like Miley Cyrus and Charli XCX saw a +500% rise in social media followers via lockdown content.
Recorded music
Streaming remained resilient, but physical sales, sync royalties, and performance royalties declined. Trends included:
- A temporary 7–9% dip in streaming, offset by a rise in music video streams.
- Increased popularity of classical and ambient genres.
- Bandcamp’s waived revenue fees and Spotify’s tipping options supported artists.
- MIDiA predicts artist backlash over streaming royalties as other revenues collapse.
Music Marketing
The traditional PR route has been turned upside-down, with many music blogs and magazines losing staff temporarily or permanently. Will the ongoing struggle for music publications to survive make them less relevant to younger generations? TikTok, Instagram and even Twitch campaigns may shape the future of music PR, with TikTok’s weekly music chart attracting the attention of many music industry professionals. Highlights included:
- Dua Lipa, Lady Gaga, and Rita Ora ran standout campaigns, offering interactive and DIY content.
- Music magazines like Crack went online-only, crowdfunding to survive.
Business
Warner Music Group’s successful IPO inspired other labels, with Tencent now controlling stakes in Universal, Spotify, and Warner. The industry is branching out:
- Apple acquired virtual reality firm NextVR.
- Esports collaborations and new apps like Facebook’s Collab explore music’s future.
Donation Programmes
A range of relief initiatives launched to support musicians and venues:
- The UK’s £2.5M musician relief fund was exhausted in five days.
- Apple Music launched a $50M royalty fund for indie labels, and YouTube pledged $100M to Black creators.
- Virtual events, Bandcamp compilations, and merchandise raised funds globally.
Will this trend continue in the future? With social movements on the rise and many people and organisations willing to contribute to such causes, our hope is that Covid-relief funds and BLM donations are just the beginning of a more conscious industry outlook.
