Pandemic the game changer of the Music Industry

Abstract

The aftermath of pandemic had left its imprint on global business and the music industry was no exception. The coronavirus hit the music industry hard in March 2020 , the streaming business declined and the revenue through live programmes took a nose dive as a result of social distancing and quarantine. The global business houses are still grappling with the post pandemic effects and things are not different for the music industry which still learning to function and earn revenue in the new normal. Most of the societal shifts or major global events will tend to bring about innovation in business with new ideas. This pandemic will bring a wave of a big change, be it another instance of innovation or a presentation of a great opportunity . This will be a prospective chance for the music industry to outline ways of bringing artists closer to their fans — without actually getting them physically closer — and innovative traditions to generate excitement around enthralling music and ensuring that the live concert experience remains intact but presented in a different form. It is not easy, but the music business has been offered with a unique opportunity to carry forward its business and ensure those towering revenues return and multiply and the business of music witness a healthy growth for years to come.