Industry leaders give insight on what’s next in the music business

A couple of music-industry leaders recently shared their insights on the future of the music business on the billion-dollar, mega-corporation level, Tim Ingham wrote for Rolling Stone. A few high-level takeaways from Warner Music Group’s Steve Cooper and Facebook’s Tamara Hrivnak are:

  • “Augmented reality has the potential to be the next format for music,” and “it’s not about pre-produced content.”
  • “We see a future that is video-first and interactive.”
  • There aren’t enough streaming “options and choices for consumers.”
  • “Protecting our 70 or 80 years of sound recordings—this invaluable and irreplaceable IP—will be critical.”

And a few interesting stats from the piece are:

  • Goldman Sachs forecast that over half ($28 billion) of the global record business will come from paid streaming by 2030.
  • Cooper estimated that 40 to 50,000 tracks are being uploaded to streaming services on a daily basis, and that there’s 15 to 20 million musicians on YouTube.

Facebooktwittergoogle_plusredditpinterestmail

Leave a Reply

Your email address will not be published.