Stream and Love Generation. A quick read about the future of music business.
Soon after humans achieved the technology needed to create devices able to record, store and reproduce sound waves, the music industry went indiscussibly through a moment of big change. Live performances in operas and arenas were the only way to enjoy the pure emotions of music, and many would agree that it still is like that. Nowadays the majority of the assets behind the music business belong to the markets providing music products for private and personal use.
The last 20 years went through an impressive evolution in the ways music was delivered to people. Many of us have been holding in their hands any sort of different device in order to achieve the combination of music storage and reproducing device.
Vinyls, cassettes, CDs, infinitely many mp3 players brands included all the Apple music reproduction devices like the iPod series.
These new ways of listening to music made an enormous impact on cultural and social aspects of generations of people all over the world, they became a milestone of the music history.
Another big revolution hit the music business once again nearly a couple of decades ago. It was indeed the end of 2001 when Rhapsody launched the first ever music streaming service, in the form of a monthly subscription fee.
As music lovers started to deal with this new concept of getting ahold of their favourite compositions, record labels together with artists and lawyers were trying to design a legislation able to generate and ideally distribute monetary incomes from the subscriptions.
By 2008, right after the great recession, many new streaming services appeared, among them also the ones ruling the market worldwide at the moment, Apple Music, Spotify and Amazon Music.
Today, Spotify counts on more than 100 millions subscribers, a good 36% share of the market. Its followed by Apple Music which reaches up to 54 millions listeners taking the 18% of the share.
The Chinese market opened up the lanes for music streaming too, allowing companies like Tencent Music to take over the distribution service quickly reaching 30 millions subscribers, slightly less than the American colossus Amazon which serves 38 million users.
As always, some things change and some other stay the same.
While we still learn and develop the features of the music streaming world, we are also trying to understand where the future of music is leading.
In our job, being in between the music creators and the final users, it's crucial to figure out how technology and people's taste will develop and consequently affect the ways music will be delivered. At the same time we will keep on feeding the powerful engine that makes all of this possible, the love for music.
Love for music was born with us, it allows artists to express their emotions and listeners to merge in them. It always had an extremely significant impact on our everyday lives, and we are sure it will continue its journey in the same way.
Blissful Moods Team