Trapital
What Music's Next Growth Phase Will Look Like
Aug 26, 2024
Will Page, former chief economist at Spotify and author of 'Pivot', dives into the evolving music landscape. He discusses whether the music industry has hit 'peak oil' and the push for fairer royalty systems. Page explores the rise of glocalization, examining how languages shape artist success in diverse markets. He analyzes shifts in listening habits and the influence of streaming algorithms, while highlighting the challenge of navigating consumer behavior across generations. Expect insights on the need for representation in local music scenes, particularly in Australia.
41:35
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Quick takeaways
- The transition in the music industry signifies that while streaming platforms thrive, certain major labels struggle, creating a non-symbiotic relationship.
- Glocalization is reshaping the music landscape as local artists gain global prominence, challenging traditional globalization through language and cultural authenticity.
Deep dives
Current Landscape of the Music Industry
The music industry is experiencing a shift, with some major streaming platforms like Spotify showing significant growth while others are struggling. This stagnation in growth among certain labels has raised concerns, drawing a stark contrast with the independent sector, which is thriving. The podcast highlights that the relationship between streaming platforms and major record labels is no longer symbiotic, as recent earnings reports have shown that some labels are not keeping pace with industry growth. This evolving dynamic signifies a transition where the success of specific players comes at the expense of others.
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