Jesse Kirshbaum of the Nue Agency’s 2024 Music Industry Predictions
Master marketer Jesse Kirshbaum of the Nue Agency and the Beats & Bytes newsletter shares his predictions for music and marketing in 2024.
By Jesse Kirshbaum of the Nue Agency and the Beats & Bytes
Events industry grows in depth, not in the bottom line
The experience economy has returned and my calendar is back to its 2018 self. The broader concert business may not grow its bottom line – it’s going to be tough to top the revenue generated in 2023 by Taylor and Beyonce – but we’re going to see a rise in the volume of experiences. The good activations are going to tie-in digital innovation that further amplifies the IRL experience.
Roblox will be the platform of the year
Fortnite Islands is coming on strong as a Roblox competitor— with many more players arriving — but I think 2024 is going to be a huge growth year for Roblox. Mass adoption will depend on the ease of building on the platform, which currently takes time and is capital-intensive. Once the AI plugins make building easier, everyone is going to flock to it for their album release event.
Rise of the indie musician
There are more artists than ever. With the use of new equipment and AI tools, the baseline is higher than before and the rise of the amateur musician is opening up new economies. Helping service this market with resources, mentorship, and promotional opportunities is going to create a major growth opportunity. This amateur artist economy will start to boom. One of these amateurs will become a superstar. Maybe there will be such a thing as an overnight success!
Artists launching products
The evolution of artists and brands has taken shape. We went from “selling out,” to partnering with brands, to artists becoming creative directors and launching their own brands. The influencer market has done this very well, but artists are even better suited to launch their own brands and products. Beyond merch and perfume, both of which generate solid revenue, artists are going to diversify their offerings and partner with bigger brands or create them from scratch.
I think partnerships are going to continue to be extremely important in cutting through the clutter and creating flywheel marketing opportunities. Collabs are cool, but will be even cooler as three-way partnerships that add more ammunition to the forced multipliers. Adding a partner makes deliverables more challenging but impact potential greater.
Hybe’s growth
This is going to be a big year for the indie label, Hybe. I wouldn’t bet against Scooter. When it appears his chips are down, he’s got a plan for how to do it bigger and better. I’d expect more breakout hits, innovation with tech, and industry power to flock.
Amapiano will flourish
I have a feeling this is the year that Amapiano crosses over. The genre has been buzzing in hip circles for a while. It started in the 2010’s in South Africa as a soulful mix of house, Jazz, and lounge music. 19-year/old sensation, Tyla, is going to have a breakout year, become an industry darling, and usher this genre into the mainstream.
India and Dubai are high-growth markets for live events
The highest growth opportunities are in India and The Kingdom for music and live events.
Read Jesse’s full list of 2024 predictions here.
More 2024 Music Industry Predictions
- Mark Mulligan of MIDiA
- Jay Gilbert of Label Logic
- Bobby Owsinski of Music 3.0
- Janelle Borg of Amplify
- Maykel Piron of Armada Music
