17 August 2021

Live Streaming & Music: Music Industry Mega Trends

DJ live streaming

WHY IT HAS BOOMED DURING COVID.

We’ve identified seven music industry mega trends that will shape the future of music in the next five years. These are all things that anyone hoping to work in music, in virtually any capacity, will need to understand. 

Download our detailed music industry mega trends report here.

Livestreaming & Music

During the pandemic, the livestream business (within both social media and gaming platforms) has boomed and is rapidly becoming more sophisticated. Originally conceived as a shoddy alternative to a live concert experience, the race is now on to develop platforms that deliver a sensory, multi-dimensional experience. It now appears likely that livestreaming technologies will continue to surge post-pandemic, in the same way that sports TV exists alongside live sport. 

Livestreaming is already big business, with revenues in 2020 estimated at US$600 million. As well as ticket sales, artists are making income from virtual goods, donations and badges from concerts within gaming platforms. 

Mark Mulligan, Managing Director at MIDiA Research, said: “For many, livestreaming started out as a solution towards creating a live experience between artists and fans in the midst of the pandemic. 

However, its rising popularity as well as growing opportunity calls for the music industry to take a page out of the games industry and understand that digital intimacy is the key to opening the box to monetising fandom. 

“The benefits of livestreaming can be multiplied when they are taken to music fans who are also gamers – audiences that will most quickly understand and translate the concepts of digital fandom across to music.” 

– Australian Institute of Music

Christina Rowatt

Christina Rowatt

You might be also interested in

  • Remembering Michael Gudinski

    Categories:

    • Industry Insights
    remembering michael gudinski 1

    4 Mar 21

    Michael Gudisnski couldn’t sing or play a note. But the Aussie music icon understood show business – the art of taking an act and turning them into a success story.
  • How To Get Gigs: What Every Performer Needs to Know

    Categories:

    • Industry Insights
    • Life after AIM
    Emily Hanks and Josephine Ison

    20 Jun 22

    AIM graduates Emily Hanks and Josephine Ison are in-demand performers and booking agents who shared absolutely essential information with AIM students about establishing yourself as a successful musician and busy performer.
  • 13 Mar 21

    Paul Saintilan is the author of a groundbreaking new book called "Musicians & Addiction: Research & Recovery Stories" and the CEO of Music Australia.

RELATED COURSES

  • The Bachelor of Music – Performance will guide you to refine your musicianship, develop your collaboration skills and stand out as a performer. You will emerge with the skills and confidence you need to perform on stage and in the studio in a variety of musical styles.