Artist holograms are music's next big revenue generator, said Troy Carter during a panel at the inaugural Trapital Summit in Hollywood.
From CDs to streaming to AI, new technology has had an outsized impact on the music industry for decades — and Venice Music founder/CEOAt a panel titled “The Future of Streaming” at the inaugural Trapital Summit in Hollywood on Thursday , Carter said he does not believe audiences will be able to tell the difference between physical artists and their holographic images in the coming years — and that those lifelike holograms represent the next big revenue generator in music.
The use of synthetic artists, Carter believes, will be beneficial to both human artists and the wider industry due to its scale. By employing them, he said, “you could do in every language. You could do it in all parts of the world. Then there are ways for real artists to be able to use that technology to be able to scale their businesses, as well.”
“Everybody chased what was hot on TikTok. We gave the keys to TikTok,” said Carter. “Everybody bet on ephemeral artists for the most part and ephemeral songs on TikTok and that’s starting to crumble now. We got to get to a point where it’s, ‘Okay, let’s bet on the art. Let’s bet on the artist. Let’s bet on development and really put strategy around that.’ The people who can do that are going to build billion-dollar brands with artists.
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