When we think about technology, we often think about physical devices that are electrical or digital.
When you think of the entertainment industry, you imagine film, gaming, TV and perhaps even theatre. Music is probably lower down the list. In a report by IFPIhowever, it was found that music consumption is growing steadily worldwide. As music becomes increasingly digitalised, so does the technology used to distribute it.
This is encouraging startups to focus on music as a stand-alone industry rather than as a sub-division of entertainment, which is helping the sector to grow even more.
But what kinds of new tech are now being used in the industry, and how will they change the way that people experience music? Last year, rock band Kasabian partnered up with London based VR company Visualise to create a virtual gig experience. The performance could be viewed via a headset or in a web browser, giving fans the chance to get as close to the band as possible without actually being present.
New sensory VR features like touch will make this kind of experience even more immersive. Another novel development has been pioneered by a Dublin-based startup called Firstage. The company records artists in front of a green screen and then shares the video via an Augmented Reality smartphone app, which lets the viewer watch their favourite bands and soloists perform on their kitchen table.
There are so many people involved in the creation of a track, and blockchain ensures that the right amount is paid to the right contributors. There can often be underhand dealings in distribution, but the transparency of the online currency makes this much harder.
How will technology disrupt the music industry? Digitalisation is affecting music in a big way. As music moves online, so does the consumer experience.
This is already clear from the popularity of streaming sites like Spotify. VR and AR in particular have made music less exclusive, which on the one hand is positively disruptive as it gives musicians the valuable exposure they need to be successful.
It can be difficult for artists to physically reach a wider audience, but with VR and AR, the bands and solo musicians can be in more places than one. On the other hand, this accessibility could potentially backfire.
Why deal with the hassle of organising travel and accommodation when you could experience the performance from the comfort of your own home? The traceability of blockchainonce adopted, will force sales to become open and honest, meaning that all contributors to a certain record or event will receive the appropriate amount.
However, discussions over digital currencies serve as a warning to companies like HMV. Challenges and new commercial opportunities. For example, virtual and augmented experiences could have a serious negative effect on fan turnout at physical events.
The most obvious response would be to find a way to generate revenues from VR performances, perhaps by selling them in the app store for instance. Taking sales out of the physical sphere can lead to embezzlement, as transactions are less visual.
Using blockchain to make these sales more transparent will help contributors receive the right amount of revenue for their work, which is ultimately a good thing for honest businesses — embezzlers, not so much.
There will always be dedicated music fans that stand by vinyl records, but the future of music is mobile, digital and hugely accessible — and the record labels and artists that embrace it now will make the most of this, as well as standing out from the crowd.
Think 3D printed instruments and AI predictions of what sort of music you might like, for example. In short, technology is changing the way that music is experienced, and it will continue to do so with the help of innovative startups and consumer demand.
Will digital music sales kill physical sales? Is Blockchain the future of transactions in the industry? What other innovative technologies could affect the way we experience music? Share your thoughts and opinions.Disruptive Innovation in the Media & Entertainment Space, with Chris Graham On this week’s episode of The Innovation Engine podcast, we’ll be looking at disruptive .
Jun 05, · From Blockbuster To Netflix: The History Of Disruption In Entertainment Anna-Lee Muck Brand Contributor Dell Technologies BRANDVOICE Paid for by the brand. Disruptive Innovations is an IT/telecommunications consulting firm that is displacing established market leaders in the space.
As a vanguard in the industry, our proprietary process aids clients in taking advantage of everything that technology has to offer, while simultaneously optimizing network infrastructure and reducing cost. The Future of The Music Industry.
How will emerging technology transform the sector? When you think of the entertainment industry, you imagine film, gaming, TV and perhaps even theatre. Music is probably lower down the list. 18 Disruptive Technology Trends For By: Rob Prevett.
Technology. 11th January Jan 08, · The disruptive impact of digitization can of course be seen most dramatically in the consumer electronics and computing industries themselves, along with media and entertainment. articles by Bower & Christensen () and Markides () discuss several types of innovation: disruptive technologies, radical innovations and business model innovations.
a) Please describe in your own words (but based on the articles) what the following concepts mean: (i) business model innovation, (ii) radical innovation, and (iii) disruptive technologies.