The development of the music industry in China faces significant challenges. Many local governments and organizations are eager to grow this sector and have tried various strategies, including collaborations with TV shows like "The Voice of China", leveraging self-media for promotion, and focusing on skill development to achieve fame and profit.
However, most of those deemed “successful” in the market are often just famous rather than truly successful. Their efforts largely revolve around maintaining and enhancing their visibility, which requires ongoing investment in promotion and substantial personal involvement in publicizing their brand.
How should the music industry really operate? Perhaps American singer Taylor Swift can serve as a good example.
According to a report by Forbes, Taylor Swift has amassed a fortune exceeding USD 1 billion, officially making her a member of the billionaire’s club. She is the first artist to become a billionaire solely through her music career, with a net worth of USD 1.1 billion. Other notable figures in the industry, like Rihanna and Jay-Z, have also achieved significant wealth, but to a certain extent, this has come through fashion brands, liquor companies, or entertainment holdings. Taylor Swift’s approach is actually quite simple: she focuses on making great music.
Swift is an incredibly hardworking individual, which has allowed her to build a vast catalog of songs that is the fundamental basis of her music career. Additionally, she has hosted the first-ever series of concert tours to generate over USD 1 billion in revenue. The current tour, the Eras Tour, has boosted local economies and brought joy to fans around the world.
Moreover, Swift is also a savvy investor. At 34 years old, she has a substantial real estate portfolio, with properties in New York, Beverly Hills, Nashville, and a beachfront mansion in Rhode Island. However, all of this is built on the foundation of her musical success. Her tour revenue has reached a milestone, marking one of the many records she has broken over the past year. Other achievements include winning the Grammy Award for Best Album for the fourth time, making her the artist with the most wins in that category.
It is estimated that in just the first half of last year, Swift's tours generated approximately USD 5 billion in GDP for the U.S. economy. Wherever she performs, her concerts stimulate local tourism, hospitality, and the F&B industries. In fact, the leaders of some countries have personally invited her to perform, and certain cities have temporarily renamed themselves in her honor. In the world of finance, analysts have coined various new terms and concepts to describe the economic growth model created through her music. Terms like "Taylornomics" and "Swiftnomics" have emerged, along with concepts such as "TSwift Lift" and "Swiftmania". These terms are used to analyze and explain the economic benefits resulting from her influence as a musician.
Notably, Taylor Swift has consistently maintained a strong focus on music. In addition to being a talented songwriter and singer, her business acumen and management of the music industry are also remarkable. She even regained control of her music rights by re-recording her albums, effectively launching her own global paid music era. Her "Eras Tour" was produced into a film with a budget of over USD 10 million, which grossed over USD 260 million worldwide. Reportedly, the film earned more than USD 83 million in China alone, breaking box office records for similar films and creating a new model for production, distribution, and viewing habits.
The answer to how the music industry should operate is straightforward: it requires dedicated musicians. The primary problem in the Chinese music industry is its focus on profit rather than artistry, leading to a lack of genuine musicians. Many performers are merely casual players in the scene, often relying on luck to achieve fleeting success, and they lack a serious attitude toward creation. Instead of focusing on their craft, they engage in frivolous pursuits. As a result, many believe that Chinese music continues to depend heavily on classic songs from Hong Kong and Taiwan to maintain its standing.
With a population of 1.4 billion, it is unfortunate that China’s music industry is bleak, superficial, and clichéd. The essence of the music industry is fundamentally one that requires dedication and sacrifice, indeed these are intrinsic demands for those involved in music. The new generation of musicians in China needs to rethink the materialistic mindset focused on profit and instead pursue the true spirit of music. Only then can they achieve genuine success.
Taylor Swift has been able to rise from her country roots to achieve great success, and countless talented musicians in China can surely do the same.
Final analysis conclusion:
The Chinese music industry faces significant challenges. Although various local governments and organizations have attempted different methods to promote its development, most so-called "successful" individuals are primarily focused on publicity rather than having a genuine musical foundation. In contrast, international artist Taylor Swift has achieved billionaire status solely through her dedication to music creation and her hardworking attitude. Her success not only reflects her music income but also contributes to economic development in various regions. For the Chinese music industry to make substantial progress, it needs to move away from a profit-driven mentality and return to the essence of music, focusing on nurturing musicians with genuine creative abilities.
