Check out this infographic about the online music industry.
Post suggested by KCJ
Evans on Marketing Business Analytics and Marketing Information, Consumers and Their Behavior, Distribution, Global Marketing, Online Marketing, Social and Digital Media, Sports and Entertainment Marketing, Technology and Marketing apps, global, infographic, mobile, mobile media, music, online, online shopping, social media, trends 6
It’s fair to wonder if in five to ten years physical music sales will become completely obsolete with the rise of the digital music industry. Coupled with the smartphone revolution, the ease of downloading an individual song from iTunes or some other music app foreshadows the future of listening to music.
Due to the increase of technology from the ipod to the iphone, it is no surprise to me that the rise in digital music has been dramatic in the past couple of years. It is way easier to access music from the web instead of actually going out and buying a hard copy CD. The Music App world is taking over and I also find it very interesting how 4 babies are born per second and 39 mobile phones are bought per second.
Digital music is definitely making a huge impact on the world thanks to the information revolution that has introduced so much advanced technology. The younger generation thinks it to be so much more convenient to digitally download music (free or not) and putting it on their mp3 players/ipods rather than heading out to the store. I feel that in the near future this will definitely catch fire globally and generally across all ages because after all, digital music is pretty user friendly.
Its easy to see that physical forms of music sales will no longer be around in the years to come. This is a good and a bad thing. I like to have music on a CD just because that is what I grew up with. But its also a good thing because it is more convenient and better for the environment. Nevertheless it is striking to see how many music related apps are downloaded every second. It is safe to say that the way we get and listen to music will completely change in the next couple of years.
It makes sense that in such a technologically savvy world, music is following suit. It is sad to me though that CD and record sales are down only because I find there is more a connection to the music when you hold the physical disc in your hand. I love reading the album inserts and the comments by the artist, which is something I can’t really do on Pandora or online streaming sites. It was interesting to me to see how quickly music apps and online streaming became popular. Everyone has a smartphone now so it makes sense that this would happen. These numbers will only increase as technology gets smarter and more advanced and pretty soon, I wouldn’t be surprised if CD’s didn’t exist at all.
With the state of music being digital now, i think it becomes better for artists as they can reach a bigger audience more than ever. Although downloads are illegal but they allow artist’s music to be known by a larger audience. With Pandora and Spotify that allow streaming, it is becoming easier than ever. You listen to a new artist every minute. It’s obvious that cds don’t sell anymore; that’s not where artists make the most money; in contrast with their performances in concerts, their appearances, their endorsements of product lines etc….that is where the money is coming. It really does them more good then bad the fact that cds are no longer the main source of music.