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Music Industry Views On TikTok And Taylor Swift

In Grammy week the music industry has taken a break from back-slapping to discuss the major topics of interest, namely TikTok’s increasing importance in breaking new artists as well as Taylor Swift’s unstoppable dominance.

TikTok are currently testing how much its users really care about music. Indeed, TikTok is currently seen as the most important platform for breaking a new artist, with YouTube ranked second.

The argument for TikTok is they generate the most awareness at scale. Indeed, the amount of time young people spend on TikTok searching out anything from recipes to travel destinations to new music is staggering.

Still, YouTube also allows a massive reach via their recommendation algorithm, and one billion daily active users.

When asked who would be the first artist they would sign to a recording contract if they could, Taylor Swift was the clear number-one, as there hasn’t been a name in pop as big as the multiple Grammy winner for as long as she’s been on the scene. She’s also seen as guaranteed to remain a force to be reckoned with for the rest of her career, with her huge built-in promising sold-out stadiums for years to come.

Another big question is whether the business will ever be as big as it was during the CD boom, where besides fans snapping up new artists they were also busy replacing their old vinyl titles with the shiny new technology.

Many believe the future looks bright, with streaming still yet to penetrate Africa as well as the developing world. Plus, virtual concerts, synthetic media, AI and VIP concert packages are all also set to drive financial gain.

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