We grew up paying for music CDs with about 12 songs. Now we can pay less for a whole month for an “all-you-want” music plan. You can even get the music for free just like there are real money casinos that offer free gambling games.
Music is now more accessible than ever. This has resulted in artists, writers and producers being left dry. The streaming landscape is now looking like the royal rumble.
The movement of record labels to more independent formats is continuing. Record labels are not likely to risk money cultivating new talents. They are channeling all their marketing expenditures to cash cows. The new talent has to take charge of their own personal marketing and distribution through the social media. Also, they are using music streaming platforms.
Fixing on Touring
Artists are fixing their gaze on touring and alternative ways to make money other than streaming. The music industry is expected to grow to 11.06 billion by the year 2019. The experience of seeing your favorite artist is coming back. CD’s are fast becoming extinct.
New music format
There is a new music format that would be a huge shift as MP3 and BlueRay. There is a stronger push being made for a Fair Trade Music Format. It will have the basic data to identify writers, performers, owners and producers. Also, there will be a digital currency that will use encryption techniques to regulate the generation of funds and transfer of the funds. The currency will be operating independently such as Bitcoins. The use of basic data called metadata will ensure a database of music rights, ownership and usage rights. It will be available to anyone who wants to use it. Also, the use of digital currency known as cryptocurrency will ensure a fair payment for all involved with the tracks. Payments will be more accurate.
Virtual Reality and Augmented Reality
Music is going to play a huge role in the virtual reality and augmented reality industry as we’ve seen at some South African casinos. Seeing Kurt Cobain and Jimmy Hendrix is not going to be as impossible as it seemed. The sound is playing a huge role in these new innovations. It would be a complete shame for music to be the bottleneck in new innovations.
Music holds such a massive weight in our society that when you really think about it, there is no surprise that new trends such as the above are starting to move.