DID YOU KNOW
Did you know that according to experts, music trends in 2018 includes hip-hop, music streaming, and live concerts? To back this up, Drake, an artist rooted in hip-hop, came out as the most popular musician in the United States in 2017. Music as part of our daily lives is deeply rooted in the cultural diaspora we are and in 2016, the music industry has redeemed itself from its lumbering growth in the previous years. According to an article published on Rolling Stone, the industry has hit revenue of 7.7 billion US dollars in 2016—the highest gross since 2009. The drastic growth can be attributed to the growing popularity of various paid streaming platforms, live events, social media channels, and the easy access to music production tools, especially software have replaced the major music distribution channels of yesteryear. This is despite the rise of other sources, specifically music torrenting sites. 2018 music technology puts Spotify on the top trend with its remarkable growth over the past few years amidst the 1.6 billion copyright lawsuit it's facing while SoundCloud remains to struggle to maintain its place in the industry despite laying off 40% of its workforce and shutting down offices in London and San Francisco. While streaming is slowly reaching its prosperity, sales of compact disc continue to slow down with only 99.4 million physical albums sold in 2016—the lowest number since 1986. Nevertheless, the music revenue worldwide is projected to reach 57 billion US dollars by 2021, according to Statista.