The algorithms curating so much of our new music are even worse. Who can blame them for feeling this way? The radio stations will play only songs that fit the dominant formulas, which haven't changed much in decades. Adding to the nightmare, dead musicians are now coming back to life in virtual form - via holograms and 'deepfake' music - making it all the harder for young, living artists to compete in the marketplace."īut in the end the real problem may ultimately be that "nothing is less interesting to music executives than a completely radical new kind of music."
"More people pay attention to streams of video games on Twitch (which now gets 30 million daily visitors)."Īnd even then, "When a new song overcomes these obstacles and actually becomes a hit, the risk of copyright lawsuits is greater than ever before. The signs are everywhere - including the fact that viewership for the music industry's Grammy awards plummeted 53% this year to just 8.8 million. That rate was twice as high just three years ago."
The 200 most popular new tracks now regularly account for less than 5 percent of total streams. All the growth in the market is coming from old songs. But it gets worse: "The new-music market is actually shrinking. music market, according to the latest numbers from MRC Data, a music-analytics firm." So writes Ted Gioia, author of the Substack music/pop culture newsletter " The Honest Broker". " Old songs now represent 70 percent of the U.S.
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