With a fresh year before us, ’tis the season to look ahead at what things we may look forward to over the next 12 months and which things may befall us in the world of music.
1. Possible consolidation within the streaming music business
We’ve all heard of the Big Four of streaming music: Spotify, Apple Music, YouTube and Amazon Music. You may have encountered Deezer, Tidal, Napster and Qobuz. We can throw iHeartRadio, Bandcamp, and SoundCloud into the mix. But what about 8Tracks, Boomplay, Jango, LiveOne, Joox, JioSaavn, Patari, KKBox and Hoopla? Those are streaming music services as well.
Some survive because of their special focus on specific areas of the world — China, South Asia and the Middle East, for example — but you have to wonder about the financial viability of the non-Big Four. Given the weirdness of music licensing and the razor-thin margins, how long can these other platforms hold out? Don’t be surprised if we hear of strategic partnerships, buyouts and shutdowns …