The Tyranny of Choice

Have you ever noticed the immense amount of music that technology allows us to listen to? There are so many choices that it would be impossible to listen to every track out there in one lifetime. This is what a fellow blogger likes to call “The Tyranny of Choice”.  In his blog, he points out simple facts – making relevant points regarding the future of music.

There is a noticeable imbalance in the music industry. There a numerous music services world wide. These music services are focusing on a small percentage of consumers as opposed to targeting a much larger market share. Streaming plays an important rule in the music industry and it has caused cd and download sales to decline. By targeting that small percentage of consumers, music streaming services are simply taking the downloading money and converting it into streaming money. This means the consumers are switching but not spending more. Larger target market is not necessarily being considered meaning there is just revenue transition rather than revenue growth in the music industry.

According to fellow blogger, there are three things to focus on that are predicted to shape the future of digital music – (1) Consumer Behaviour (2) Tech Companies Strategies (3) Income Distribution. Consumer behavior of the next music generation listeners and not the generation transitioning from downloads or cd’s will be the ones music services need to pay attention to. By understanding the next generation, the music services will be able to properly grow and evolve. Technology companies such as Apple, Amazon, and Google control digital music in one way or another. For this same reason, others such as labels and producers can focus specifically on the music while these companies strategize to focus on their own established goals which mostly involve product/service sales. It is a win-win. Finally, artists and songwriters have begun to pay more attention to income distribution. Although it may not happen overnight, the pressure to more evenly distribute this income is an important movement.

Music listeners may not be expected to spend money on downloads or cd’s in the future, however they are expected to listen to the numerous music choices available to them more than ever before. The Tyranny of choice will influence the way we all listen to music. This provides artists and labels with new opportunities though. Because of “the tyranny of choice” technology has created and will continue to create in the future, artists and labels must come together to create partnerships that will allow them to sell an experience – an unique music experience that they can both sell to the next generation listeners. To provide unique music experiences to listeners is what music has always been about so to focus on this same principle in the future despite how technology continues to change our lives is truly a beautiful thing.

To read the blog post and see charts that served as inspiration for this blog post, follow this link – http://musicindustryblog.wordpress.com/2014/09/29/digital-ascendency-the-future-music-forum-keynote/

Cloud Wars Heat Up

Storing music on a cloud is not a new thing – Apple entered the market over a year ago by releasing iMatch –  Music in the consumer’s current library is scanned, and any songs available in the iTunes Store is added to the consumers iCloud.  Then consumers can stream their music from the iCloud to any of their iOS devices – for a price of $24.99/year

Google Play recently announced it’s new matching feature with essentially the same offer, with a major exception –

The service is Free.

Google Play limits you to upload 20,000 songs to the service for free plus songs bought in the Google Play store, whereas iMatch’s offer is 25,000 songs plus songs purchased in the iTunes store.  Regardless, the difference of 5,000 songs seems hardly of importance when factoring the price structure of each.  iMatch’s fee and limited nature makes it a hard choice to select in light of Google Play’s offer.  It seams Apple will have to make some changes if it wants to stay competitive in this market.