The creator economy's post-lockdown growth | Music Industry Blog – Music Industry Blog
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The creator economy's post-lockdown growth | Music Industry Blog – Music Industry Blog

The Covid pandemic created a unique catalyst for the music creator economy. More time on hands and more cash in pockets gave novices and veterans alike the opportunity to spend both more time and money making music. Though the pandemic was a peak, it also marked the start of a new era for the music creator economy across every one of its aspects, from revenue to creation to remuneration. In MIDiA’s new landmark report ‘State of the music creator economy’ we provide the definitive assessment of this exciting marketplace, covering everything from creator behaviours, creator personas, all the way through to workflows, market sizes, and growth forecasts. The full report and datasets are available to MIDiA clients here. Here is an overview of some of the key themes explored in the report.
A new generation of music makers
The music creator tools space is being transformed by the increasing availability of simple, affordable music-making tools, plus a new generation of consumers that is steeped in creator culture. We are entering a new era for the music creator economy. Yet, despite all the dramatic changes, underpinning this new era of creator behaviour are suites of complex software that arose over two decades ago and, at their core, have seen little substantial change. The digital audio workstation (DAW) is the foundation of modern music making, but was not designed for the modern music maker. This presents fertile soils for seeds of disruption as more casual music making, centred around mobile devices and sharing music online, becomes the new top of funnel for the music creation space, and the music industry as a whole. 
Having grown up as social media mainstreamed creativity, the new generation of music makers expects to achieve professional results quickly. However, as their aspirations clash with the harsh reality of streaming economics, more creators are seeking out a diversity of income streams — from selling beats to mixing and engineering — underscoring the need for creator tools companies to help drive creator remuneration. Combined with the growth of casual creators, catalysed by embedded tools on social platforms, like TikTok and BandLab, the result is a newfound fluidity in defining what it means to be a music creator. 
Though much of that generational shift will take time to permeate through to the current market, seismic change is already manifesting. Nowhere is this better seen than in the that hardware music creators use. As recently as five years ago, music creators would have invested in hardware mixing desks, synthesisers, and outboard effects. But today, the most widely owned hardware is devices that plug into computers, such as controller keyboards and audio interfaces. These affordable devices free up creators to spend on the software and sounds on their computers, relying on the hardware to control sound making, rather than actually making the sound.
And it is the spending on software, sounds and services that is currently propelling the market. With an average creator spending more than $600 a year on music creation, promotion, distribution, and commercial tools. For beginners this can mean spending three and half times more than they earn from music, while for advanced creators it is a little over one tenth. In total, the music creator tools market was worth $4.1 billion in 2022, across learning, collaboration, production software, sounds, funding, commerce, distribution, marketing and commercial, with distribution and production software being the two largest segments.
In 2021, the cumulative number of creators paying for software, sounds, skills sharing, and learning was under 30 million – by 2030 there will be nearly 100 million with learning and skills sharing becoming the largest single group of buyers. Learning and skill sharing were among the fastest growing components of the music creator economy in 2021, with strong rise in both formal and informal learning as well as in skills sharing. Just under half of the learning revenue was from companies that were largely or entirely focused on music production learning. With 83% of creators feeling that they still have much to learn and improve upon, the opportunity for learning is pronounced and will become even more so because of the fast-changing nature of the sector.
However, much of all this may seem like a separate and parallel industry to those in the traditional music business (labels, publishers, streaming services, etc.), the creator tools market that commands much of the attention, time and spend of artists and songwriters. Streaming is only around a fifth of the income of the average creator, with many aspects of the creator tools marketplace representing new ways that they can earn meaningful income, whether that is selling singing sessions on skills marketplaces, writing soundpacks for sounds platforms or producing tracks for other creators. Furthermore, clear connections are being made across the two industries, such as Avid and LANDR both offering distribution, Sony Music Publishing striking a partnership with BeatStars and Spotify launching a bundle subscription for its Cloud DAW Soundtrap. The most impactful synergies, however, will come from audience platforms, like TikTok and Shorts, that are already home to music creators and already provide their own creator tools. But what they have that rightsholders and most creator tools companies do not, is audience. As the culture of creation spreads towards audiences themselves, it is these sorts of companies that have the ability to play the most transformative role in the future of music creation.
If you are interested in learning more about MIDiA’s state of the music creator economy report, email stephen@midiaresearch.com
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