Here’s a recap of some of the key trends and topics that marked the music business in 2012. As we move forward, it’s good to look back, especially amidst the music industry’s chaotic, shifting paradigms.
As the music industry’s traditional structures continue to fall away, new models are building upon unsteady foundations. Some of the new companies that stepped onto the playing field in previous years fought in 2012 to stay in the game. Major music companies merged and reorganized while digital startups gained more and more attention. Digital Music News reported that 1 in every 43 venture capital dollars was spent on music related businesses last year.1 One example, The Echonest, a music data and analysis company, popped up from under the radar and secured over $17 million in funding. With success stories from Amanda Palmer, Kickstarter pushed funding into uncharted territory, creating viable new streams of capital for musicians. Here are ten examples of trends and events that marked the music industry in 2012 and that will continue to have an impact on the months and years to come.