It was an extremely dynamic 12 months for the music business. And it’s coming to a detailed.
Let’s have a look again at 2024 and assessment the most important occasions in music tech, developments, promotion, regulation, finance, concert events, and extra:
Present me the cash!
If 2024 proved something, it’s that funding is again
Some notable examples embody:
The small print of those particular person gross sales and acquisitions are much less necessary than the general story:
Cash is returning to the music house after the dramatic financial downturn in 2022. In consequence, large gamers are shopping for, horse-trading, and positioning themselves for an period the place confirmed catalogs could be additional leveraged.
So sue me!
In 2024, we received momentous lawsuits aplenty
These aren’t your common contests between aggrieved events. A few of these circumstances will set necessary precedent as we face new frontiers in tech, creativity, and possession:
- Drake is suing his personal label’s parent-company, accusing it of utilizing unethical ways to spice up a rival monitor by Kendrick Lamar. The well-known rap beef now continues in court docket, with accusations of streaming fraud, shady offers with DSPs, and extra.
- Miley Cyrus famously answered Bruno Mars’ music “After I Was Your Man” along with her monitor “Flowers.” And now a copyright holder for the Bruno music is suing Miley for copyright infringement, regardless of Bruno Mars and a lot of the songs’ writers being in opposition to the swimsuit. It is going to be fascinating to see what musicologists and specialists in copyright must say, as a result of “answering” and “affect” (IMO) will not be the identical factor as plagiarism and infringement.
- In an analogous copyright grey space, numerous musicians didn’t like how the subsequent president of the USA used their tracks throughout his marketing campaign occasions in 2024. They usually sued. On the coronary heart of the sort of case is the query: The place is the road between the straightforward remunerated public broadcast of copyright-protected content material, and an artist’s proper to guard their likeness, picture, model, and status. And that query isn’t simply necessary for issues of politics, it’s additionally being requested in court docket circumstances associated to AI-generated content material.
Talking of…
AI goes to court docket
“Hey Siri, discover me a very good lawyer”
The primary half of 2024 was dominated by discussions about AI’s affect on artistry and creativity. However then did you discover? That speak kinda flatlined. The hype waned. Fears subsided (considerably).
Then got here the court docket circumstances:
- The most important labels sued UDIO and SUNO, accusing them of coaching their AI fashions on copyright-protected content material. The case will (doubtlessly) settle whether or not that observe is lawful.
- Different circumstances and laws wrestled with the query of whether or not AI companies and the individuals who use them can make use of voice mimicry, manipulate somebody’s likeness, or in any other case revenue from a recognizable model, picture, or type.
- And as AI helps to resurrect Bing Crosby for an end-of-year Christmas collaboration with V of the band BTS, we’re reminded that posthumous releases are going to be a continued authorized and moral battleground.
It’s not a matter of combing by way of the archives of an artist’s unreleased materials for revenue potential. There are actually limitless alternatives to make new materials and generate new income streams.
How do you responsibly handle the legacy and property of a deceased movie star within the current and future world of digital resurrections?
(Previous) college remains to be in session
Classic FTW
Regardless of radical shifts in music consumption over the previous 25 years, previous varieties and codecs are nonetheless exhibiting resilience:
- In 2024, there’s additionally been a continued uptick in classic audio gross sales (vinyl and cassette), in addition to will increase in classic audio gear gross sales and restore.
App scraps
Platform drama on a world stage
Right here’s the tea:
- TikTok continued to show itself a first-rate participant in music discovery, with its distinctive capacity to affect a monitor’s chart positions and virality. However not everybody liked that reality. Or a minimum of, they didn’t view virality as a good commerce for low fee.
- In the meantime, the USA determined it will drive parent-company ByteDance to promote TikTok, or else face a ban of the app. This regulation is being challenged and we’ll see what occurs if it will get to the Supreme Court docket.
- Spotify additionally stirred up controversy with an try to pay much less for music when it’s “bundled” with audiobooks.
- After which there was that second mid-year when Spotify’s Daniel Ek stated that the value of making content material was nearing zero, and the complete web exploded in outrage. (Personally, I feel his tweet was taken out of context, however… it made for some good drama).
Gigs go larger
The megastars make a concerted effort
The place are stars turning to maximise their earnings? Concert events. Because the economics of touring stay a problem for lesser-known acts and smaller venues, superstars are driving unprecedented earnings from dwell occasions:
- Excursions are one factor. Mega-concerts are one other. With acts like Adele and The Weeknd taking part in occasions that draw large crowds that make your common stadium present look quaint.
All of your music on this planet
What’s the most important story of the 12 months over right here at ReverbNation? We launched UNLIMITED music distribution for our premium members.
So you may launch every little thing you create and by no means pay extra distribution charges.
Albums, EPs, singles, remixes, sped-up variations, dwell cuts, demos, collabs, vacation tracks, and extra.
Plus, you’ll get limitless promotion by way of Alternatives, an onramp to main music publishing, and a bunch of musician instruments!
What large occasions did I miss?
As I stated above, 2024 was a dynamic 12 months. Numerous change. Numerous debate. Numerous large achievements and memorable tales.
Inevitably, as with all end-of-year lists, I’m certain I missed one thing noteworthy.
So be a part of me and Kevin Breuner on this week’s Music Profession Examine Group as we recap these information tales from 2024. We’d love so that you can be part of the dialogue on YouTube or Fb, and tell us what you thought was the most important music information of the 12 months: