St. Patrick’s Day 2023. Unlike past years, we didn’t see much celebrating at SXSW….a few mentions, some green clothing, a few kilts, but no big street parties. The chilly, windy weather was probably a factor.
Top Entertainment Trends for 2023: What the Data Says
The CEO from Luminate, Rob Jonas, shared his company’s view of the top 10 trends in the entertainment industry:
- Streaming Growth: Harry Styles’ As It Was was the most streamed song last year.
- Fandom: Super fans want more merchandise and buy more vinyl…but 50% of them don’t own a record player!
- Short Form Video: Their popularity has been amplified by social media.
- Catalog vs. Current Music (current defined as released in the last 18 months): Rock is the #1 or #2 genre for all ages. Livestreams drive catalog consumption.
- Catalog Purchases: Sales of catalogs (like Bob Dylan and Bruce Springsteen) generate value on day 1 for investors.
- Franchise Purchases: Examples are acquisitions by Lucas Film and Marvel by Disney. These franchises also have super fans.
- Hype vs. Reality: for example, NFTs.
- Music Industry Challenges: There has been an explosion of new music. 42% of streams have 10 or less uploads.
- Globalization: Latin is the fastest growing genre. K-pop is also having a huge influence.
- The Power of Diverse Audiences: and their purchasing influence
Keynote: Margo Price
When I arrived half-way through this session, Margo was talking with Rolling Stone’s Angie Martoccio about her new book, Maybe We’ll Make It. “After I quit drinking,…I was more qualified than anyone to write about drinking.” Margo grew up on a farm and recently joined the Farm Aid board of directors.
This craft show was held on the second floor of the new Marriott Downtown—not to be confused with the nearby JW Marriott and Courtyard Marriott. Anyhow, over 125 creative women displayed their unusual jewelry, pottery, clothing, shoes, purses, and such.
Thee Sacred Souls
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