I’m going to give you guys the blueprint of how I believe the music industry is going to go: First was Fan Interaction: Where fans were able to buy music through vinyl, cassettes, and CDS. Fans were able to discover new music through traditional radio and cable TV which increased opportunities to interact with new music from breaking artists. With the advent of social media and music streaming came the next wave which is Fan Engagement: Now fans can actually engage with music through home videos which became a viral engine through platforms like YouTube and TikTok. Music streaming platforms like Spotify were able to simplify Fan Interaction through user generated fan-made albums (playlists) and discovery through algorithmic recommendations. Now, with generative AI comes a unique opportunity I call Fan Participation: For the first time in the history of the music business, fans can become part of the creative process and work with artists on a much more deeper level. Artists can earn royalties through the creative imagination of the fans. I look at Grimes AI as a perfect example of this. There are so many applications and possibilities that is untapped and riped for innovation. Instead of looking at it like Napster 4.0, majors need to take a double look at new AI technologies that can enhance the fan participation experience. Music used to be an art form where certain creators can benefit. Now with AI, the art can be shared and collaborated with the fans. This not only increases fan engagement but also fan interaction as well. It’s a triple-win for major record companies and large indies.
New Op-Ed I wrote for Music Business Worldwide (MBW) about the future of music as generative AI moves transforms the world of creation. https://lnkd.in/g9Bz5Nki
