The BPI has published the latest in its series of Insight Session reports, exploring the 10 key trends set to shape the next decade in music.
The new report ’10x10: Ten Trends For The Next Ten Years’ - produced for the BPI by Music Ally - follows the Insight Session on held last month on the subject of how the industry is set to develop over the coming decade. The session included 10 guest speakers addressing the following subjects:
Music and The Metaverse – Stuart Dredge, Editor in Chief, Music Ally; The Future of Direct to Fan – Tom McNeill, Creator Partnerships Manager, Patreon; 5G and Music – Emily Savage, Immersive (XR) Commercial Product Lead at Digital Catapult;
Artificial Intelligence – Cliff Fluet, Head of Media & Entertainment, Lewis Silkin; MD Eleven Advisory; Smart Homes and Smart Cars – Alexandre Jornod, Lead Analyst, Music & Audio Futuresource Consulting; The Future of Social Audio – Cherie Hu, Founder & Publisher, Water & Music; The Attention Economy – Will Page, formerly Chief Economist at Spotify, and author of Tarzan Economics; The Rise of Creator Culture – Mark Mulligan, Managing Director & Analyst, MIDiA Research; The Future of Music NFTs – Shara Senderoff, Partner/ President, Raised In Space; and The Evolution of Streaming – Joe Sparrow, Writer and Broadcaster at Music Ally.
In his foreword for the report, BPI chief executive, Geoff Taylor, said: “The unprecedented times we have experienced over the last 12 months appear to have accelerated the pace of change in society, in particular in terms of the influence that technology has on our behaviour.
“Possibilities that, for so long, felt years away are suddenly impacting our daily lives. We can only imagine the quantum leaps that await us over the course this decade. We can be sure that music and the creative industries will be at the very cutting edge of evolving consumer behaviour.
“Anyone looking to harness the opportunities in this area will be asking themselves some important questions. How will music be enriched by the metaverse and by 5G networks? How will smart homes and smart cars change listening habits, and what will AI mean for us all?
“In which ways will the attention economy and creator culture shape the way music is made, discovered, shared and enjoyed? Are non-fungible tokens (NFTs) a flash in the pan, or will they transform the foundations of our industry?
“And finally, with so much recent focus on the streaming economy, what will be the next stage in the future of audio, and the evolution of the streaming format?
These are challenging and exciting subjects, with profound implications for the future of music.”
You can read and download the report here.