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Music Industry Predictions For 2023 That You Need To Know 🔮

Hey UPSTAGE family! Happy Tuesday! This week I'm laying out my tarot cards, looking into my crystal ball and telling you what the music industry has in for us in 2023! 🔮 I see....that we're going to be fine. That said, we have a few different things to break down and consider going into this new year as independent artists. 1. The increasing change between the "major" music industry vs. our music industry. 2. The economy's effect on live music. (I know, gross.) 3. The importance of independent marketing and fan- capture off of social platforms. Speaking to my first point, this increasing change is purely a mindset reminder for us all. Going into 2023 we can confidently be reminded that as independent artists, we are not in the same music industry that major artists are in. When we see our biggest pop stars and major label -backed artists thrive as always this year, we can take solace in the fact that literally nothing they do is remotely relevant to our goals, jobs, or even products. Our goals must stay realistic and focused towards longevity of our music careers. Our individual jobs as independent artists must stay as well- rounded as any major artist's entire team. Our products shouldn't be impressive testaments to our lust for stardom, but rather increasingly wise investments into our next best move. This margin of difference between the "independent artist industry" and major artist's industry has been gradually getting bigger and bigger for over 20 some years. It's still on that same trajectory moving into 2023. We no longer live in the world of being "discovered" by A&R men because today, we ARE our own artist representatives. (And yes- please feel free to refer to yourself your own A&R man from now on. I know I might. Hell, I might even pair that title with a nice pantsuit or men's sport coat.) So don't waste your time daydreaming of your big break, because it's simply not the world that independent artists live in. For lots of artists these days, including several of the artists I've met over the last couple years at the studio; it more of an accumulation of several little successes that build up reputations and pave an artist's ever- changing course towards success. To my second point, 2022 was filled with poor touring ROI for artists due to inflation. Some artists that invested in tours backed out completely and others canceled the latter legs of tours to cut their losses. Going on the road was too expensive, ticket prices were too high, the production/supply chains were behind, and employing the necessary tour hands was tough. Though these things are still happening, it appears as if it's looking positive in 2023 when it comes to inflation's impact on the entertainment industry. My limited sources and knowledge in the economic state of our nation could prove wrong, but I believe we should be hopeful. I am hopeful to see more and more people feeling financially positive in supporting artists, buying merch, and attending shows. Lastly, my third and most important point targets our ever changing media. In an age where we are our own press creating majority of our own promotional content, we face the possibility of losing facets of "sharing" at any time. With TikTok constantly trying to be banned and social media companies being bought out left and right, we must consider "what would happen to our followers and fanbase if we lost any of these outlets?" Have you put in the work to ensure you fanbase supports you in as many places as possible? What percentage of your followers have visited your website? How many of them are on your emailing list? If you suddenly lose all of your TikTok followers, do they also follow you on YouTube, Instagram, or Patreon? Going into 2023 the BIGGEST warning for online creators is to diversity their streams of income. This means developing your own sites or platforms of choice where you can control the future of your fanbase. Apps may disappear, but the internet isn't going anywhere. So ask yourself, "how does (or can) my fanbase translate off social media platforms to supporting my life as a musician who has a career to grow, and bills to pay?" Food for thought. I hope 2023 challenges you to upstage your career, and whenever you need help along the way I'll be here with my crystal ball and a kick- ass plan. Love, Jada & UPSTAGE LLC




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