How should you handle the changes happening to the social media platforms? I recommend apathy. Seriously.
For one thing, the feeling is mutual. These companies do not care about you. In fact, they work very hard to prove they do not care about you. As proof, I direct you to… well, almost any news story about them in the last decade.
Secondly, if one social site flames out, another one will come along. You can also go retro with websites and newsletters. Some say that means missing out on the attention economy. But really, the attention economy is dominated by people pushing out hate speech, sleazy sales pitches, and borderline pornography. Sometimes all in the same post.
Instead, make something good, something you would like watch or read. There are people who want to see that material too. Good tends to not go viral. Good rarely makes the news. The social media algorithms actively work against good. But somehow good endures. And good is more likely to connect with people who will support your music, your business… you.