Electronic music is one of the most dynamic and innovative genres of music, constantly evolving and adapting to new technologies, cultural shifts. Let’s explore some of the current trends in electronic music production that are shaping the sound and future of the industry this year.
Artificial intelligence (AI) is one of the latest and most interesting trends in music technology. AI technology is set to influence areas of the music industry like streaming, production and copyright. According to Google, around five companies are currently capable of generating electronic music through artificial intelligence (they’re one of them – see the Tensorflow-based Magenta Project). So-called “generative” AI can create original compositions, remix existing tracks, or assist human producers with tasks like mixing, mastering and sound design. There is a huge potential for personalized recommendations and playlists for listeners based on their preferences and moods using this technology. Imagine; a bespoke soundtrack to suit your life! We’ll cover the pros and cons of that much more in a future post.
Direct To Consumer Platforms
The global pandemic significantly affected the music industry. COVID forced many artists to cancel their live shows and tours, which are a major source of income for them. While cooped up at home, many artists experimented with making music from home studios. As a result, many artists have turned to direct to consumer platforms like Bandcamp, Patreon and Twitch to sell their music and connect with their fans directly. These platforms allow artists to set their own prices, retain more revenue, and offer exclusive content and perks to their supporters. They also enable artists to experiment with different formats and genres without being constrained by labels or distributors.
Concerts in Virtual Reality or Augmented Reality
The pandemic also propelled VR and AR technology as a way to create immersive and interactive experiences for music lovers. VR technology can offer virtual concerts, festivals and clubs that simulate the feeling of being there in person. VR technology can also enhance the creative process of electronic music production by allowing producers to manipulate sounds and visuals in a 3D environment. Some exemplary projects include TheWaveVR, MelodyVR and Electronauts. It will be interesting to see what happens with this technology since Apple, a new challenger in the VR space, has entered the battle (Apple Music Classical VR concert, anyone?).
Rise of Local Repertoires In Streaming
I think 2023 will see changes in the way listeners consume music. Streaming services like Spotify, Apple Music and YouTube Music will continue to dominate the market, but they will also face competition from local and regional platforms that cater to specific audiences and tastes. These platforms will offer more diverse and localized content that reflects the cultural identity and preferences of their users. For example, Anghami is a streaming service that focuses on Arabic music, JioSaavn is a streaming service that offers Indian music, and Boomplay is a streaming service that showcases African music.
The electronic music market is expected to grow at a compounded annual growth rate of around 7.4% between 2023 to 2030. This means that there will be more opportunities for electronic music producers and more of the same challenges. With increasingly impressive tools available, the market will become much more saturated and competitive, requiring producers to stand out from the crowd with their unique style, quality and branding. Producers will also have to adapt to changing consumer demands, technological innovations and environmental issues.
These are some of the current trends in electronic music production that are likely to shape the future of electronic music this year. This genre has always been on the bleeding edge of technology which makes it an exciting and diverse genre that offers endless possibilities for creativity and expression. With the increasing prevalence of AI and generative media (the sky is falling on music, again) the roles of the artist, musician, and producer will shift substantially. What do you think? Is the future of music bright or bleak? Tell us what you think in the comments.
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