As the current year slowly grinds to a soft and mellow halt, it’s a good time to gaze into the crystal ball to see what possibilities the music business might have in store for us in 2014. Here are nine predictions for the upcoming year (in no particular order) that are anything but safe, but are still based on the events that 2013 bestowed upon us.
1. The tipping point finally comes for streaming music. Users discover the convenience of streaming as more and more convert to paid subscriptions. New streaming services cause confusion in the marketplace at first, but there are clear winners and losers by the end of the year.
2. Spotify turns a profit. The company fights off advances from new and old competition alike as it expands its global footprint and increases its active users. The service finally becomes barely profitable by year’s end.
3. Musicians earn more, complain less. As the number of streaming users grow, artists and songwriters discover that those hundredths of a cent payments are actually adding up into real money. Plus, with new streaming services coming online, money flows from more sources than before, causing more smiles than frowns.
4. And they concentrate on YouTube. Record labels discovered YouTube as a revenue source in 2013, musicians and songwriters discover it in 2014, as they monetize their channels either manually or via multichannel networks, and post more videos in order to create a new revenue stream. Read more on Forbes.
Help support this blog. Any purchases made through our Amazon links help support this website with no cost to you.
You should follow me on Twitter and Facebook for daily news and updates on production and the music business.
Check out my Big Picture blog for discussion on common music, engineering and production tips and tricks.