Technology Hitting High Note in the Music Industry with these 5 Futuristic Innovations!
By Media Entertainment Tech Outlook | Thursday, September 05, 2019
Modern technology is transforming the music industry, from creation and distribution to consumption. See how new opportunities are emerging!
FREMONT, CA: A study of innovation could go back to 40,000 years to the invention of the first bone flute. But the technology that underpins the music industry as people know it today dates back to the turn of the twentieth century only. From the phonograph to the mp3, the industry is continually evolving around technological innovation. The industry has changed drastically over the last century, and most of its change is technology-driven. Music technology, including musical instruments, sound generators, studio equipment, audio coding, reproduction and streaming software, and devices, are shaping the way music is produced, distributed, and streamed. The evolution of technology is enabling studios and hobbyists to produce music at a technical quality unimaginable decades ago. With all the new advancements, listeners get immediate access to different songs and styles everywhere at every time. Here is more on the latest trends that are expected to bring more changes in the music industry.
• Smart Speaker
Smart speakers are becoming common among music enthusiasts. The music industry is guided by this innovative technology, which is becoming the hottest topic among musicians, developers, and listeners alike. Smart speakers offer a new interface for interaction with the digital music environment. It is potentially creating a new model of music consumption in the industry. Smart speakers may be fuelling more casual interaction with music. Rather than asking for a specific album, the listener can leave it up to the personalization algorithms of the smart speakers. Smart speakers are taking music streaming into a new world of shared listening rather than individual consumption through a computer. The smart speaker industry is still at its infancy, and tech giants are putting their efforts to bring more innovations in the field.
• Live Streaming
Music streaming revenues are growing, and there is a visible decline in download rates and conventional unit-based sales. The music industry steadily regenerates, and music streaming will continue to act as a vital catalyst. In streaming, a listener listens in real-time instead of downloading a file to listen later. With this, the industry has an attractive business model because there is no physical product or distribution network involved. Besides, there are recurring subscription revenues instead of single-time purchases. This feature is attracting a large number of brands in the space, and early adopters are achieving user scale and brand recognition. Live streaming facility is also available today, which deliver live performances. Despite some challenges in the industry dynamics, there is clear proof that industry is utilizing the massive potential of streaming services, and it is quickly becoming the primary source of the revenue.
• Playlist Personalization and On-Demand Playlists
Music is the great connector! Today, brands are one step closer to making the vision of music for everyone come true. Brands are unveiling new, improved, and more personalized way to discover music and listen to what people love for free. With all music available, it can be challenging to choose what one wants to listen to. Instead of having to do many searches to make a playlist, some offerings have a ready-made playlist that a listener can modify to suit to preference. Different factors are used to analyze the music to predict what a listener might like.
Users like to have more control over the listening experience, which in turn boosts the artist popularity, and album hits. The new on-demand playlists offer the ability to pick up and play any track within the curated lists without skipping tracks or waiting on shuffle to bring up the music that a listener loves. These playlists would be unique based on the listener's taste and personalized playlists. With these facilities, users can gain easy access to their favorite songs and discovering new music is made simpler. Also, the playlist will be regularly updated based on the listening activity.
• Decentralization of Music
Music brands are already using blockchain to solve the industry's most pressing challenges. With blockchain, the industry will be a community of decentralized artists, listeners, and developers sharing and redefining music. In decentralization, members of the community will operate it, maintain control over the data with no central authority. Decentralized music community will be censorship-resistant, secure, and community-driven. With this musician will be able to generate time-stamped and immutable records making content ownership publically verifiable and unchangeable. Content modernization will be community-driven. With a decentralized, content-addressed, and protected network, content cannot be tampered.
• Wearable Technology
With smartwatches and fitness trackers dominating, it is easy to forget that there are other places where wearable can make its presence. From creating to performing, music and wearable have the potential to work together, and there are already some significant initiatives out there. Wearables designed explicitly for musicians aim to help them stick to the rhythm by delivering subtle vibrations based on the beat being created. There are wearables jackets which lets users create music through motion and touch sensors, featuring several reprogrammable sensors to detect movement.
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The above trends are showing that the music industry is becoming more of a playing field for technology. Changes in demand towards more innovations suggest the possibility of the more competitive music industry. It is expected to see more musical variety and quality in the coming years, something music lovers and composers alike should wholeheartedly welcome.