2024 Music Industry Predictions from Jay Gilbert of Label Logic
We’ve been sharing a series of 2024 Music Industry Predictions from our favorite thinkers and doers, and today, Jay Gilbert takes the microphone.
Regular Hypebot readers know Jay as the co-host of the Music Biz Weekly and Your Morning Coffee podcasts. But he’s also a master music marker and strategist via his consultancy Label Logic.
In other words, Jay Gilbert knows the music industry from multiple angles.
by Jay Gilbert
- As generative AI tools for creating songs from an artist’s body of work become more mainstream and ubiquitous, a “new Napster” will launch to showcase and distribute all of the “Fake Drakes” being created.
- Worldwide, music copyright value will increase from $41.5 billion to $50 billion.
3: We will see music streaming subscription prices increase. A basic single-user monthly rate will be $12.99.
- Performers will finally be paid when their song is played on the radio in the U.S. (The U.S. is the only major country in the world where terrestrial radio is not required by law to pay royalties to performers or recorded-music copyright owners of the songs played on-air. Streaming services and SiriusXM satellite radio already do pay such performance royalties.)
- Catalog valuations will stabilize, powered by publishing and streaming gains.
- More Digital Service Providers (DSPs) will add playlist pitching features like the one Tidal recently started testing.
- A Bandlab artist will celebrate a #1 hit
- The number of tracks uploaded to DSPs (not including Soundcloud and YouTube) on average each day will move from 60,000 today to 120,000. If you include Soundcloud and YouTube, that number will grow from 120,000 today to 240,000.
- Physical sales (CD, vinyl, cassette) will gain market share worldwide.
- Artists, managers, labels, distributors, and venues will create new ways to super-serve the super-fan.
- To improve recommendation and search, music and video platforms will move from primarily metadata tags to deeper song analysis (lyrics, composition, and sound)
More 2024 Music Industry Predictions
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