Digital Music Sales – Is This the Future?
The question arises spontaneously when it comes to the destiny of music. The attitude of younger generations towards music has changed dramatically during the last two decades.
Shopping habits as well as sources of information have undergone major changes, e.g. traditional record shops vs. online shops or traditional online magazines vs. online magazines. In my humble opinion, we are witnessing a new era in music. On the one hand, the flexibility has increased enormously: nowadays you can save 2,000 titles from your private collection in a 32 GB iPhone, whereas 25 years ago you would have needed an entire room to store 2,000 vinyl records. Let alone browsing through the titles and finding the song you were looking for.
Fans can acquire tracks and albums in ways inconceivable a few years ago: from download stores, streaming sites, subscription services, free-to-user sites, bundled with their broadband or a mobile phone handset.
Undoubtedly, this is a good piece of news. However, the music industry has to fight against online piracy and illegal file sharing, which remains the most damaging form of piracy due to the volume of files shared by users. In addition to this, the last two years have seen a sharp rise in non-P2P piracy, such as downloading from hosting sites, mobile piracy, stream ripping, instant message sharing and downloading from forums and blogs.
On the other hand, the reaction of the industry has resulted in a diversified offering of services for consumers to buy and access music. Some examples are subscription services; music services bundled with devices and broadband subscriptions; streaming services with applications for mobile devices; advertising-supported services that offer premium services; and online music video services. Services like Spotify, Deezer, and Apple Music have become extremely important as they allow producers and labels to monetize on music usage without having to download any files.
Here are some interesting publications that might help you in your online marketing activities.
- Damian Ryan - Understanding Digital Marketing
- Ryan Deiss & Russ Henneberry - Digital Marketing For Dummies
- Philip Kotler, Hermawan Kartajaya, Iwan Setiawan - Marketing 4.0: Moving from Traditional to Digital