Had I not experienced this myself, then I would never say it, but COVID-19 has changed the music industry, and I think it’s for the better. Of course, it is utterly heartbreaking that we have lost businesses throughout the virus, and of course, the economy is suffering majorly. However, when this all dies down, and things begin to return to whatever our new normal may be, one thing will have changed, one thing will have improved, and that one thing will open up a world of business opportunities for the music industry.
COVID-19 has forced us to move online! A portion of the world has refused to be online, and right now if they want to enjoy at least some of the luxuries they have had in the past, they too will need to be online. What does this mean for the music industry?
People discover things when they are bored. Tonnes of new music and new artists will be discovered during the COVID-19, new fans and supporters mean new sales and higher business turnover.
People are inside more than ever. Right now, we are inside more than we have ever been before, as we should be, minimising the risk to our health. In the past it has been challenging to get our audience to our shows, now all we have to do is take the show to them. Our audience doesn’t even have to leave their loungeroom. But, when restrictions are lifted, people will want to go out, and they are far more likely to go to your show because you have been able to create and grow a connection with them, therefore increasing their loyalty to you.
More people are online. What else is there to do after you have ordered take out, been for your daily walk, cleaned your house top to bottom and walked the family dog three times? Even if you were never online very much or at all before the pandemic, many more people are learning how to use the internet out of necessity, this means people will get used to purchasing online, and that means:
- more online ticket sales for concerts
- pre-ordering new music
- signing up for promotions, newsletters and memberships
- sharing more content with their friends (organic growth)
COVID-19 has changed the world, it’s had an impact on all of us in some way or another and while it’s easy to see the negative impact, maybe if we look hard enough, we will see the positive ones too!.