Dance To The Music It's Booming
Put your dancing shoes on, music is back.
According to those I know and work with at Sony, Universal, Warner, BMG and a host of others, there is a resurgence in recorded music and revenue not seen in the industry since the 1990’s.
With this resurgence, comes a proliferation of recruitment efforts for business, technical and creative executives, that is drawing from a smaller pool of proven entities. Where “at will” agreements sufficed in the past to attract talent, there are now, more generous 2-5 year contracts being used to keep and attract those who are driving revenue.
In 2015 there was a noticeable upswing in consumers demanding higher resolution music and the OEM’s were quick to respond. This had brought about enhancements on personal devices, auto and home electronics that has brought quality streaming music and subscription services to consumers, as never before.
Not only are the OEM’s enjoying enhanced revenue, but you only have to look at the Universal Music IPO, and their $50 Billion market cap, to see that recorded music is back in force after many years of struggling for publishers, labels, PRO’s, writers, producers and artists.
The vibe in the writing rooms is more positive and more collaborative as everyone involved sees the fruits of their labor in actuals that reflect a proliferation of music broadcasters competing for content.
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Some very smart people feel that as more streaming services offer greater value and higher audio resolution to all forms of music entertainment that the OEM’s will continue to enhance their offerings also. Producers are creating content beyond 2.0 and while we might not be at 7.2.4 as mainstream, there is no doubt that the low-res MP3 is on its final legs. Consumers are abandoning, low-rez audio.
As business continues to grow in the industry at billion-dollar+ increases each year and OEM’s deliver to consumers devices that can unfold enhanced content, there are positive years ahead of us. There are music industry incubators for music technology that are making substantial strides and the OEM’s only limitation now seems to be supply chain. There is an entire new generation of music production/post and distribution that should create monetization channels never realized before. Streaming services with intimate relationships with OEM’s will benefit most. Consumers want to create playlists and enjoy curated music across all their devices and it is reflected in the choices consumers are making for electronics and compatible streaming services.
I recently watched a soon to be released music video produced in 4K/120 with a 5.1.4 soundtrack that was pristine with audio resolution once reserved for audiophiles. I truly feel the best is yet to come that will benefit everyone in the industry and more importantly, the consumer.
So…. get up and dance, the music is just fine... Best regards, Tony
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