The music industry has been failing, succeeding, ending and even revolutionizing for some time now. We are in, what seems to be, a constant state of flux regarding how this industry is shaping up. There are start-ups, innovative technologies, new platforms and plenty of young entrepreneurial artists who are looking to take some power back. Live music, the reason why most become musicians, has always been around and will continue to be so. There are multiple platforms now available to musicians to perform and share live music. Some have made it through using Youtube or Vevo where as some are now utilizing such platforms to engage with fans more and add value to their audiences. With live streaming technologies coming to the fore and the amount of festivals worldwide expanding year on year, there is now more financial value in artists performing, than selling their music through traditional channels.
Smart phones and tablets will be key to success within the music industry. We are at a time now where media consumption on the move is commonplace for most consumers. In America around 90% of the population own some form of device and with further advances within Internet coverage happening all the time, we increasingly consume and search for new music on these platforms. Devices allow for people to completely sync their entire web world together. Social media has been ingrained into most streaming and internet radio platforms to allow for instant sharing between friends. This is also being seen with blogs and publications who are incorporating mobile into their publishing strategy to best engage with audiences throughout the industry.
The use of data and analytics within the industry will continue to have a massive impact on the way artists and labels act throughout the industry. It has become a huge part of their marketing and promotional efforts but also where music has become a digital enterprise, a vast amount of data has been collected which can be used in leveraging tour plans, release dates, social demographics and more. Using data through Youtube, Spotify an