Last week, we looked at the latest innovations within the gaming industry. And there were plenty of innovations to speak of. This week, we’re shifting the focus to innovation within the music industry. Now, that doesn’t mean we’ll be looking at the latest experimental dubstep-country-rap collective blazing a trail into mainstream music – though that would make for an interesting piece in itself. No, we’ll be putting music under the microscope from an industry standpoint, looking at where we currently are in terms of trends and platforms. In other words, ‘what’s hot and what’s not’ across the music industry and who the key players are. Remember CDs? No? Well blame Shawn Fanning. Mr. Fanning was the Napster developer who took on the might of the music industry – he dropped out of Boston’s Northeast University in 1999 to focus his efforts on one of the first peer-to-peer file sharing platforms. A year later, he was on the front cover of Time Magazine. Without going into much detail (this is a decade ago now, after all…), Napster eventually lost a court battle but the digital downloading war raged on. Now, it seems, the music industry is on its knees, changed forever by Napster. Gauging the popularity of music used to be so straight forward – the number of physical singles or albums sold by a specific artist compared to other artists would determine who was top dog. Now, with downloading and streaming permeating cyberspace, it’s not quite so straight-forward. CD album sales were down 12.4% in the UK alone last year, whilst digital album sales were up a whopping 30.6%. And all this before we even consider music-streaming websites. With broadband speeds increasing all the time, it’s likely we’ll see far less downloading and much more streaming in the years ahead. In fact, the streaming revolution has been going on for years, you just might have missed it over the cacophonous crackle of the mighty iTunes.
One Response to “Innovation in music: key trends and the growth of digital”
- Streaming, advertising and digital partnerships: is we7 and Karoo collaboration the future of music? | innovatrs.com
- I know What The Future Of Music Is – Read This To Find Out! | innovatrs.com
- Industry insights: music piracy isn’t a problem and Spotify is the future | innovatrs.com
Leave a Reply