The music industry has undergone rapid changes over the years, and there is no telling how the future will look like. For now, it seems that the advent of music streaming services like Amazon Music, Apple Music and Spotify have become an important part of the global music industry.
It is clear that music streaming services are here to stay. There has been an increasing level of acceptance of this development. Although artists experience several setbacks and disadvantages, such as low royalties, here are some ways in which music streaming services can still help them:
Huge Subscriber Bases
Album sales are lessening. Although there will always be music enthusiasts around who will want to buy CDs, this population will be low in number, and we can’t expect or rely on the CD trend to come back anytime soon. That seems highly unlikely.
Popular music streaming services have an incredible number of subscribers using these services. The appeal is the quick access, ease of use and the opportunity to discover new music by various artists and bands. The millennials scoff at CDs and prefer music streaming services.
As these music streaming services offer affordable subscription models, people are less likely to be interested in piracy. After all, the music streaming services offer high-quality, licensed music and even if there is a low payout to artists and bands, there is still some sense of satisfaction in having supported the artists. The users of these music streaming services come from all parts of the world, and the artist receives excellent exposure. Hence, the fruit possibly lies in drawing more crowds to the live concerts.
Ease of Distribution
The old ways are dying. The major labels are no longer at the helm of distribution, and the control has now dropped significantly. Distribution was an expensive and complex process in the past. Artists have more control over how they want to present themselves to their audiences.
Music streaming services use various tools to collect information and present statistics on the music consumption behavior of the listeners. Hence, it is now much easier to find out what is trending and which albums receive the best response. An artist can now easily make improvements and corrections in their marketing, production and promotion efforts.
Apps like Spotify are a great place for music lovers to share their playlists with each other. The integration of the music streaming services with social media applications is also an interesting development. Music sharing is easier than ever.
Popular artists will also be able to engage in this world by posting their favorite playlists, which will indicate to the listeners the artist’s various influences. This is also a great way for some lesser-known artists to gain recognition.
It will be interesting to see how the music industry adapts to these technological changes and how new capabilities will come about with this rising trend. While there are undoubtedly many disadvantages to this trend, there is still hope as many possibilities and opportunities are slowly surfacing day by day.