Record labels are struggling to turn musicians into superstars

The number of artists in the Top 10 of Billboard's Hot 100 decreased from 30 in 2001-04 to 13 in 2021. Too many people drop tracks, and TikTok's chaotic algorithm chooses hits at random. Cultural tastemakers, like radio, late-night TV, and later Spotify, don't have much sway anymore. With Gen Z rejecting mainstream culture, labels must shift focus from superstars to scouting artists just starting out.