Where is Music Streaming Heading?

The tectonic shift in the media and entertainment industry has sparked the popularity of music streaming. See how!  

FREMONT, CA: There are remarkable changes happening in the media and entertainment industry, marked by the advancing technologies. Right now, the industry is going through one such transformational phase, which has resulted in many speculations regarding the present and future of music businesses. The music businesses have evolved through many peaks and troughs with the decline of records, and CDs, and the emergence of digital music downloads and streaming. Streaming solutions are trending at the moment, and online music platforms and smartphone apps have taken the lead. As far as forecasts go, the industry could see a lot more technological innovations that might result in soaring revenues for every stakeholder in the music industry.

The issue of piracy that had pushed the music industry into losses in the first decade of the twenty-first century has now been eliminated to a vast extent owing to subscription-based music platforms. With their interactive features and in-built smart recommendation engines, these platforms have captured the imagination of listeners. Apart from that, technology companies have come up with creative platforms that support independent artists. Today, music-making or production is not limited to high-end studios. Rather, anybody with access to music tools on smartphones has the freedom to create and distribute music.

One can expect augmented reality to become a part of the music business soon. The immersive experience that AR brings has the potential to make music even more entertaining for the listeners. By coupling great audio with engaging video, the music industry can create new opportunities for growth. Besides, interactive music streaming is touted to be the next big thing that could help music production companies and artists stand out in the crowded arena. As technology leaders, social media platforms, and music streaming channels come together, innovations and monetization are sure to follow.