The last couple of years have seen an incredible amount of innovation within the music industry, both on a business and creative level.
NFTs, virtual concerts, derivative works, the rise of companies selling sound packs and beats, AI music, etc… All of it signals a coming revolution that’s going to transform the way music is created and experienced.
All of this activity will eventually unlock new formats that will rise to the top and become standardized.
Think about MTV. Prior to MTV, artists and record labels had been making music videos, but the launch of a national music video network really nurtured that creative visual extension of music which eventually became a standard format that artists use to express themselves.
We haven’t really seen anything like that since then in our business.