Record labels will lose the ability to develop new artists. These new artists will get their break on web platforms instead of from labels. Music fans will have their favorite songs but not care who the band is. Most music industry profits will go to tech companies.
These are just some of “12 Predictions for the Future of Music” from The Honest Broker, Ted Gioia. In October, he explained further what he sees coming in the music industry. It’s an interesting and mostly kind of depressing look at things and definitely worth reading.
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