There’s a bit of playing to the online crowd in Thomas Honeyman’s Medium post on the music industry’s past decade: “standing in the ruins of a business built on private jets, Cristal, $18 CD sales and million-dollar recording budgets” etc. But his piece is worth a read for its suggestions on the role that millennials are playing in the evolution of the industry. “Pitbull — despite having 50 million Facebook fans and nearly 170 million YouTube plays — has sold less than 10 million albums in his entire career. This is the reality of the new music industry, which is built off of liquid attention, not record sales,” suggests Honeyman. His theory: Millennials have taken over the demand for music as well as its supply – older, more cynical heads may suggest another characteristic of some millennials is an inability to look outside their own demographic group – citing SoundCloud alongside the obvious YouTube as the key. “Below the YouTube empire rests an entire culture of Millennials who are discovering music online,” claims Honeyman. “Platforms like SoundCloud have more than 250 million active users each month and Millennials discover their music predominately through these digital platforms. Incidentally, when digital natives produce new music, they release it first on the digital platforms…”
Tools: platforms to help you reach new audiences
Tools: Kaiber
In the year or so since its launch, AI startup Kaiber has been making waves,…