After Covid-19 hit the world becoming a pandemic in early 2020, things have changed for every industry all over the world. Most businesses shut down completely or partially for more than a year. One of the most affected industries is the music industry. All shows, recording, and shooting for music videos completely stopped for a certain amount of time causing the revenues to dry up. Millions of people all over the world depend on the music industry to survive.
As per a survey, 70% of the musician was able to do some work during the lockdown caused by the pandemic. And only 60% were able to drop new music during that time. As streaming became more popular due to the lockdowns, new music has seen an increase in sales and streams in 2020. Despite that many did not come out with new music. It is because they couldn’t manage to get all their bandmates or other musicians together to record. Also, they could not go to the recording studious when everything was shut down. And many of them did not have the proper equipment at home to record music. Musicians who had their music ready to release before the pandemic hit, sound easily release it afterward increasing their streams.
Lockdown
The lockdowns across the world have limited the physical activities of the musicians. It has forced them to come up with new ways to stay afloat in the business. From 2020 to now, most musicians have released their music online, mostly through streaming platforms. And with the tours and public appearances being canceled, they had more time to create new music. In order to stay active and relevant in the eyes of the audience and with a lot of time on their hands, musicians managed to complete their work and release them to the listeners. But not everyone is this peachy during hard times. Many lost motivation and are struggling to come up with new material to present.
Live music industry
The live music scene has suffered the most due to the pandemic. Thousands of people come together in music concerts and festivals. And it poses a huge risk in infection spread. That is why all the music shows were either canceled or postponed since last year. The biggest music festivals did not happen for the first time in history. People depending financially on these events have lost everything in the blink of an eye.
How long can the live music industry survive?
For many musicians live gigs are the medium of survival. It has not just affected the musicians but the organizers as well. Many have come up with new ways to conduct live music. The most successful way so far is online music shows. These shows are either private or public. But musicians do not earn a buck if they do not charge for their online shows. While some are using it to earn their living, some are using it to stay up to date and active as a musician. However, online music events can never replace the true essence of an offline one.
Musicians are also using online mediums to sell tickets for their upcoming shows. There is no surety of these shows actually taking place; everything depends on the situation. Musicians must offer a refund for the tickets if the show gets canceled or postponed.
Merchandise sales
Most musicians sell different types of merchandise along with their music. During the pandemic, most of them managed to increase their sales. The demand for the merchandise was high with the music lovers having more time to do online shopping while being stuck at home. Also, the fans bought their stocks to help and support the musicians. And it’s not just the big musicians, artists of all scales with a proper fan base that have experienced an increase in their merch sales.
Recovery from the pandemic
The pandemic has been going on for more than a year. Many musicians, music professionals, and organizers have suffered vast damage because of it. The live concerts will resume after a certain time obviously, but it will take much longer to recover from the current financial damage caused by the worldwide Coronavirus infection. Music lovers are also eager to attend music festivals. And the massive crowd at the recent experimental music concerts in the UK proves the exact point. Some countries have had a negative impact after conducting shows recently and many got infected. So until everything comes back to normal, it is not going to be the same as before.
What more can be done?
The music industry contributes immensely to the economy in every country across the globe. And the recent negative impact on the industry has affected the world’s overall economy as well. Many industries have been receiving help from governments and investors to restore normalcy. The music industry also needs help and support to go on. The live music industry has stopped operating completely and many dependent on the scene have lost their earnings instantly.
This pandemic has proved to be the most challenging time for the people involved in the music business. The lockdown came without notice, giving the musicians no time to prepare themselves. The infection spread so fast and so quickly, it left the governments no choice but to shut all kinds of public gatherings, especially music festivals and shows. The musicians have learned a valuable lesson on how to survive in the worst situations by adopting new methods. Their reactions and willingness to adapt to the changing situations can bring them success.
Even though most music shows have moved to an online base, there are people who are still not earning at all. Some things related to these shows need physical works. And with virtual shows those jobs have been lost, leaving those workers jobless. No one can successfully say when the pandemic nightmare will end. The music industry can only hope to get back at its previous condition soon.
Help the musicians
Many online platforms and streaming services are allowing the audience to help their favorite musicians with monetary support.