WHAT DOES THE FUTURE OF MUSIC HOLD
Radio will have a future – Streaming won’t destroy it... yet!
Video didn’t kill the radio star. Neither will streaming. Within the next 10 years, streaming won’t be the hipster alternative it is perceived as today. It will become mainstream. Standard AM and FM radio stations will remain a music distribution channel, but with a significantly reduced audience tuning in.
CD’s will be the new vinyl records
“Do you remember CDs?!” You’ll be saying to your grandchildren. With music streaming in increasingly higher demand, purchasing music as a physical object will be part of the music archive. Digital music consumption is the future. CDs will gather dust on shelves everywhere.
Musical Algorithms (Robots) will have just as much of a music taste as humans!
With music streaming and cloud-based services comes the rise to increased real-time recommendations. Apple have already begun incorporating this on their music app within iPhones around the world. Consumers will be attracted towards music services that not only match their individual tastes, but also recommend fresh exciting music.
Social Media Sites will transform their focus towards becoming a music distribution channel
Social media channels will begin to offer music streaming services to up the anti in user engagement even further. For example, Facebook is already making significant progress in incorporating news media with that specific goal in mind.