The music industry has gone through many changes over the years. Recently, the rise of music streaming services has changed the way that people consume music. For the most part, people don’t go out to buy albums any longer. Instead, they pay for monthly subscription services to music streaming platforms and are then able to listen to whatever music they want to at any time.
This drastic change from the model of purchasing individual albums or songs has altered the music industry. If you’re curious about just how much streaming has changed the music industry, then you should keep reading to learn more. You’ll also be able to examine a little bit about what might be next.
Selling Music Is Different Now
Selling music is significantly different now than it was just 10 years ago. People still bought CDs and MP3 albums earlier in the 2010s. Although there are still people who prefer to purchase their music outright, the masses have largely turned to streaming services. These subscription models have lead to industry growth overall, but this might not be great for music artists in every way.
The amount of money that an artist earns from a music streaming application is relatively low. When compared to the money that artists used to earn from music sales, it might not be great for everyone. Even so, the potential is there to make money from music streaming apps. It’s just different than it used to be and artists are adapting to this new model.
Standing Out Is Becoming Tough
Standing out as a musical act is becoming tougher due to how easy it is to put your music out there. Indie artists and bands have an easier time than ever when it comes to simply making music available. It’s still tough to build a name and become popular in the music world, though. Being a standout artist or band is still going to take real talent and you’re now competing with thousands of artists or bands from the same genre on the same streaming services.
Augmented Reality Might Be the Future
Some experts think that augmented reality might be the future of the music industry. Augmented reality makes use of technology to put a listener in a certain experience. Images can be projected that will make the listener feel as if they are somewhere else or as if something else is in the room with them. This could be used to provide unique experiences that will accompany songs and it could change the industry.
Virtual Reality Concerts
It should also be noted that virtual reality concerts are likely to become a big deal in the future. VR technology is seeing some use in the video game world currently and the technology is continuing to evolve. This could make it more practical for people to experience concerts without having to pay for expensive tickets or needing to travel to a big city. The potential for VR concerts will be huge if the VR technology starts to become more widespread in the decades to come.