Major music industry stages in 2017
The New 2018 is coming and it is time to analyze past decade and try to predict how music industry will be affected then. Monitoring figures for streaming music services keep increasing year on year. Total music consumption is showing about 10% growth compared with previous year.
One of the most discussed points this year is the fate of launched in 2008 SoundCloud. Calling itself the "world's leading social sound platform", SoundCloud has honored itself by permitting users to listen, produce and share their own music. The most popular free streaming platform is facing risky situation now.
Meanwhile Soundcloud stepped on an edge of supposed financial collapse and finding the way to create 50% public ownership in the company through a new “Sound” dollar, Apple Music and Spotify are showing unbroken growth active users and paid subscribers statistic. On-Demand Audio and Video Streaming showed starling grows, in the second quarter it is around 60%.
More and more attention is shifting to cryptocurrencies, which technology pretend to affect and change the future of music industry. According to main digital players belief, traditional music industry infrastructure will be slowly replaced by blockchain apps. While enabling rights and opportunities for users and artists, the new digital apps generation, aimed to monetize content artists create in a legal way and bring transparency to legacy systems. This year we have observed a few cryptocurrency music and video platforms such as Opus Foundation , Viberate , Voise and Popchest showed up. Music professionals are discussing place of Audiocoin in music world the way more often and who knows, maybe Audiocoin become the mainstream very soon.
Coming back to the dependable platforms, that bring revenue for artists and entrepreneurs for years, we can find noteworthy figures. Streaming subscriptions doubled as a whole last year, around 22 million subscribers brought a lot of scope for Spotify, Apple Music, Pandora, Tidal and Amazon Music this year.
Live streaming is gaining popularity pretty fast, major social networks have been adding live streaming functionalities to drive income and enhance their hold on social media users. All the major social media platforms, such as Twitter, Instagram, and Facebook, have been slowly promoting new services around live streaming. With live streaming capabilities, musicians and DJs can share their content with already millions of users. The most notable live streaming features and services today are Periscope, Meerkat, Facebook Live and YouTube Live.
Live streaming is bringing one very important thing that is forcing their success - accessibility. it gives to the musician opportunity easily to broadcast their music and so highly increase the amount of video on any given platform, which is then monetized.