Why Is The Music Industry Relying On Influencer Marketing?
Music has always garnered a special place in our hearts. Despite every culture having a specific form of music in different languages, it never fails to attract music lovers. The younger generations have a unified urge to discover new music and dedicate a good portion of their valuable time to listening to good music. As per the Digital Music Study, 2019 conducted by the Indian Music Industry, Indian listeners spend more time listening to music than any other country. Indian listeners devote 19.1 hours per week listening to music, which is much higher than the global average of 18 hours. It shows the potential of the music industry, which is a huge part of the entertainment industry. The music industry has been opting for a multitude of technical and marketing developments, and one such key strategy today is Influencer Marketing. The industry is continually leveraging the accessibility and reach of the influencers to maximize its visibility.
Rise Of Influencer Marketing
Today, people like to consume good content of varied genres on platforms like Instagram, YouTube, Facebook, Twitter, etc. It is the reason the music industry; its artists and producers are tapping on Influencer Marketing to accelerate growth. The influencer marketing industry is likely to double from $8 billion in 2019 to $15 billion by 2022 as per reports by Business Insider Intelligence. We witness a prominent presence of influencers across social media platforms. These influencers have a significant weapon of authenticity and credibility. Their success depends on innovative content creation and how effortlessly they can develop a strong connection with their number of followers. Witnessing such humongous potential, the music industry is becoming more reliant on influencer marketing.
Leveraging The Power Of Influencer Marketing
Influencer Marketing has witnessed exponential growth lately. Like every other industry, the music industry also leverages the power of Influencer Marketing to maximize the visibility of its creation. The online world is vast and confusing. So, the music artists must first identify the most suitable platform for reaching their goals, be it YouTube, Facebook, or Instagram. They must consider the benefits of each platform and accordingly pick up influencers. The key reasons for music artists and producers to collaborate with influencers lie in the ever-innovative ways created by the influencers to engage their audiences. With the collaboration of influencers and artists, audiences can resonate with unique content. This creative collaboration also ensures exploring the unexplored audience demographics to boost awareness of their creation.
Further, influencers can convert views into sales besides taking engagement to the next level. They can mention a short music teaser and provide the link to purchase it, ideally with a special
promo code that ensures discounts. This way, influencer marketing helps to convert the viewers and followers of the influencers to customers of the music label or online music streaming platforms.
Summing Up
Creating and producing music takes immense creativity and effort. But its promotion demands a crafty mind and a great business sense. Influencer Marketing completely fits to fill such demand. It undoubtedly plays one of the key roles in enhancing the growth opportunities of the music industry. Right from boosting awareness, increasing engagement in the online world to opting for innovative ways for increasing sales, the benefits of influencer marketing for the music industry are undeniable and extraordinary.
The author is Prashant Sharma, Chief Marketing Officer, NOFILTR Group
