Adapt or die. This general rule of law applies to virtually everything in the known universe. In our daily world we have seen technology cause some of the most earth shifting changes to date.
The music industry has been the victim of much of this change as the internet has allowed for the free consumption of music. For about 15 years, the music industry saw a plummet in revenue and it could be directly attributed to piracy; with sites like Napster paving the way for free music consumption.
The music industry itself had done well to keep up with the times in the past. The move from vinyl to compressed disks showed us that the industry was prepared to make the necessary changes to not only survive but thrive in such turbulent times.
However the age of the download was a challenge that seemed to be too much for the industry to handle and the advent of streaming sites looked to be the final nail in the coffin.
Sites such as Spotify, Apple Music and Google Play have now dominated the industry. This has given rise to auxiliary services such as the MusConv tool that allows us to transfer our tracks and playlists in between a variety of different streaming services.
These streaming services also allowed artists to upload music without the help of record labels. With things like global playlists in the mix, artists can now slash their budgets to a fraction of what was previously thought to be standard for such operations.
However, in the face of Armageddon, some members of the
industry made some bold moves and turned the clock back to a time where annual
increases in revenue were still a thing. With stream services boosting its
revenue, it seems the music industry is clawing its way out the woods.
After fending off free downloads, you would think that record labels were in the clear but it is quite the opposite I am afraid. You see, defeating one problem only ever guarantees that another will soon take its place. This adversary comes in the form of independence.
Artists all over the world are starting to rely less and less on record labels and opting to go it alone. The internet provides cheap forms of distribution and marketing and this allows artists to keep larger portions of what bring in.
The benefit for consumers is that we get to enjoy a wider variety of media in increasingly convenient forms. With tools like MusConv, we can play hopscotch with streaming services. Is not it wonderful?