Musically Exciting 2023 Marches With Optimism Into 2024

As the music industry evolves and transforms, every year brings a wave of new trends, sounds, and artists that captivate audiences. 2023 was no different and 2024 is only set to be better, with a plethora of fresh faces and innovations on the horizon.

2023 has been a very exciting year for the music industry. Some amount of fear, hesitation and uncertainty still lingered from 2022 but the craving for LIVE music space only became more intense. With things opening up, the surge was immense. The live music industry was thriving. The audience was hungry for more and the artists livened up the live stage. The concerts and festivals started happening all across and music lovers were willingly making the effort of driving for hours to get to the venues.

Thematic shows took front stage and Independent musicians and singer, song writers got a good opportunity to showcase themselves. Many international artists came in and more are expected in 2024. This also led to collaborations with Indian artists on the main stage. Lollapalooza happening in India and Diljit Dosanjh performing there-A new level of Internationalization.

Slowly but steadily, India has set the stage to become a keystone for some of the biggest music performances and markets in the world – from hosting acclaimed international and Indian independent artists at large concerts to smaller formats that are gradually shaping the music landscape in the country.

Lollapalooza is a global music phenomenon, an incomparable international experience, that has not only amplified this exposure in India but in all of Asia and put the spotlight on the country as a global entertainment hub.

Folk musicians too have pulled themselves out of their comfort zone and collaborated with Indian and international acts. Coke Studio Bharat ensured these artists and their music got the listeners. Many other channels like HT Folk and others started special segments on folk music which was a relief. This is now here to stay and 2024 will definitely see a new respect for Indian Folk artists from all across and their music.

We ourselves did a show in North Kashmir, in Bandipora, called Koshur Funkar. It was to discover the talented youth of Kashmir and to keep alive and create a stage for Kashmiri folk music amongst the youth and torch bearers of Kashmir. The festival was blessed by the presence of folk legends of Kashmir Noor Mohammad Shah and Gulzar Ganaie. What was fascinating was the fact that the Kashmiris are so deep into their music. They respect it and sing and play it whenever there's an opportunity. That told us we needed to do more and stand by them.

Similarly for Punjab, with Vijay Yamla, the grandson of the Punjabi folk legend Lal Chand Yamla. He has done a lot of work in Bollywood and has played at Coke Studio too. But if you hear him play the tumbi and sing raw punjabi folk, I guarantee goosebumps.

All this and more surfaced well in 2023 and now unstoppable.

The Digital Music market in India witnessed a significant growth in revenue. Among the various segments within this market, Music Streaming dominated. Spotify’s focus on penetration in Hindi and vernacular languages helped vernacular music gain considerable traction, with digital maturity growth in smaller cities and more regional label partnerships. Vernacular streams have grown the fastest, with the South Indian market witnessing a surge in both user base and engagement. This really helped folk and regional music to become mainstream.

The OTT Audio market has revolutionized India’s music industry and promises significant growth in the coming years. This has also opened more doors for the Independent artists and singer- songwriters. The music sync with OTT series and films was big this year and the trend will only continue and become bigger.

Technological developments over the past decade have led to the democratisation of music production, distribution and marketing through the advent of relatively affordable recording software, streaming services and social media platforms. AI itself became a very useful and handy tool for creators to compose and create more music. Independent music evolved and grew.

Metaverse too created larger than life stages digitally. This allowed artists to spread their music beyond just the main stage in an equally dramatic way.

Music market size is only expected to grow. In 2024, we can expect a resurgence of live music, with artists and promoters prioritizing the return of live events.

In 2024 we are expecting a Rise of Gen Z Artists.  They continue to emerge as a driving force in the music industry. Expect to see more young artists breaking out in 2024. These musicians are not only talented but are also socially and politically aware, bringing new perspectives and messages to the forefront of popular music.

Embracing the Hybrid Sound! In 2024, we can expect artists to continue pushing boundaries and combining genres to create a truly hybrid sound. With the rise of streaming services and access to a vast array of music, artists have the freedom to experiment and mix elements from different styles, leading to exciting new sonic landscapes.

With the return of live music, we can also expect a new era of music festivals, with fresh concepts and innovative experiences for fans. Expect festivals to incorporate new technologies, interactive elements, and diverse lineups to keep music lovers engaged and entertained.

Streaming services like Spotify and Apple Music have already transformed the way we listen to music, but in 2024, we can expect even more developments in the world of music streaming. Expect new platforms, features, and algorithms that cater to individual listeners’ preferences and habits.

Advancements in technology have always impacted the music industry, and in 2024, we can expect new technologies to further revolutionize the way we create, consume, and experience music. From virtual reality concerts to AI-assisted music production, expect to see new innovations that challenge traditional approaches to music.

Overall, 2024 is shaping up to be a year of exciting changes and fresh sounds in the world of music. With new artists, new technologies, and new ways of experiencing music, the industry is sure to keep fans and music lovers engaged and entertained for years to come.