Five drivers of growth in music

MIDiA sees five emerging revenue sectors that could collectively be the music industry’s growth driver in the near future:

Contextual experiences -  Instead of bring your own music, the trend will be the context will bring it

The vast majority of the millions of independent artists will spend much more on creator tools than they will ever earn from their music

Virtual events - the sector is in desperate need of commercial structure and product tiering

Monetising fandom - virtual merch, artist badges, premium chat, artist avatars

Vast amount of music-centred social activity on Instagram, Facebook, Snapchat and TikTok has not yet been properly monetised, which makes for a gaping hole of opportunity