The Dominance of Old Music in Today's Market

Concepts de base

The author argues that the music industry is facing a crisis as old songs dominate the market, leaving new artists struggling for recognition and success.

Résumé

Old songs now make up 70% of the U.S. music market, with new music shrinking. The decline in cultural impact of new tracks is evident as audiences gravitate towards hits from past decades. Despite efforts to promote new music, listeners seem more interested in older songs. The Grammy Awards' declining viewership reflects this shift, indicating a lack of interest in current music celebrations. Investment firms are focusing on buying publishing catalogs of aging musicians rather than launching new talent. Record labels are investing heavily in old tunes instead of nurturing emerging artists. The reluctance to embrace radical new music by industry gatekeepers stifles creativity and innovation.

Stats

Old songs represent 70 percent of the U.S. music market.
The 200 most popular new tracks account for less than 5 percent of total streams.
Viewership for the Grammy Awards dropped by 53 percent in 2021.
Vinyl LPs are the best-selling physical format in music.
Radio stations put fewer new songs into rotation.

Citations

"People would riot in the streets if the Super Bowl or NBA Finals were delayed, but hardly anyone notices when the Grammy Awards are postponed."
"Record labels have lost interest in new music, focusing on buying publishing catalogs from aging rock and pop stars."
"The people running the music industry have lost confidence in new music."

Idées clés tirées de

Is Old Music Killing New Music?

by Ted Gioia à www.theatlantic.com 01-23-2022

https://www.theatlantic.com/ideas/archive/2022/01/old-music-killing-new-music/621339/

Questions plus approfondies

How can emerging artists navigate an industry that favors old over new?

Emerging artists facing an industry biased towards old music must adapt and innovate to stand out. One strategy is to leverage digital platforms and social media to independently release their music, build a fan base, and create a unique brand. By engaging directly with fans through live streams, behind-the-scenes content, and interactive experiences, artists can cultivate a loyal following outside traditional industry channels. Collaborating with other musicians, producers, or influencers can also help expand their reach and attract new listeners. Additionally, participating in local music scenes, performing at small venues, and networking with industry professionals can provide valuable exposure and opportunities for growth.

Is there a way to balance preserving classic hits while promoting innovative new music?

Balancing the preservation of classic hits with the promotion of innovative new music requires a nuanced approach that respects both traditions. One way to achieve this balance is by creating curated playlists or radio shows that blend timeless classics with cutting-edge tracks from up-and-coming artists. Music festivals or events could feature diverse lineups that showcase established legends alongside emerging talents. Record labels and streaming services could introduce specialized sections dedicated to highlighting new releases while still honoring iconic songs from the past. By fostering an environment where different generations of music coexist harmoniously, the industry can cater to varied tastes while nurturing creativity.

How can listeners actively support and discover fresh talent outside mainstream channels?

Listeners play a crucial role in supporting fresh talent outside mainstream channels by actively seeking out independent artists and exploring alternative sources of music discovery. Engaging with local music scenes by attending live performances at smaller venues or underground events allows audiences to connect directly with emerging musicians. Following independent record labels known for championing innovative sounds can lead listeners to hidden gems waiting to be discovered. Utilizing online platforms like Bandcamp or SoundCloud enables fans to explore a vast array of independent releases beyond what traditional media outlets promote. Sharing favorite tracks on social media, attending virtual concerts, purchasing merchandise directly from artists' websites—all these actions contribute significantly to sustaining diverse musical landscapes away from commercial pressures.