Exploring Fandom and it’s Rising Importance in the Music Industry
With the rise of digital music and streaming platforms, distributing, and releasing music has become easier than it was decades ago. Platforms such as Spotify receive 50,000 - 60,000 new songs daily and have made music more accessible. However, for these 50,000 artists to see royalties and earn a sustainable income, they have to go above purely ingesting their music to platforms. To monetize content, the artist needs to refine their marketing campaigns and focus on connecting with their audiences using multiple avenues to reach these fans. For these artists to thrive in the industry, they must find a fanbase and convert them into loyalists. Multiple start-ups in the artist-to-fan marketing space provide solutions for the challenges that streaming platforms create. Many independent and mainstream artists have realized the problem early on and are working towards creating a community for their music using different channels like Instagram, TikTok, Twitch, and Discord. The players who support and practice fan engagement are the ones who have been generating a lot more success compared to their counterparts. However, there is now a thin wall between the artist and their fans. With increasing access to artists, fans are demanding more content and communication from their favourite musicians. As a result, more and more artists are suffering from serious mental health problems and burnout. While many stakeholders in the music industry see the problem and are trying to alleviate it, there is still room for improvement, but the needle has moved forward.
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Bathija, Drishti. “Exploring Fandom and it’s Rising Importance in the Music Industry.” Master's Project, Berklee College of Music, 2022. https://remix.berklee.edu/graduate-studies-global-entertainment-business/78