Today’s entertainment business in on an ever-changing plan,
this plan balances between traditional and digital solutions for each of the
major industry products. An example of how the movie industry is still the same
as it always was but advancing by leaps and bounds in the public eye would be
the need for high definition digital projection systems. Though the demand for
seeing a film in a theater is more popular than ever the days of the moving
platters from reel to reel have been finding they way out of movie houses for
years. These days, the film industry licenses a copy of the film to the theater
that wants to show it to the public, it’s then mailed to the theater on a hard
drive and then the film is loaded into what is known as the L.M.S. projection
system where it can then be scheduled to transfer to whichever house projector
needs to play it. The digital key to unlock the film on the hard drive and for
each of the projectors is then installed to the main system from a USB drive
and the film then has permission to play for whichever allotted amount of time
the theater has paid for its licenses.
Some of the trends in the music business that should be paid
close attention to can be divided into the three following segments:
Breakthrough Trends
Reports
from the recent New Music Seminar are showing where “Albums Earn Less but
Songs Learn More”, “Top 100 Songs All Have Shorter Introductions”, “Singles Are
Taking Longer To Break Than Before”, “Half Of Recorded Music Revenues Were
Digital In 2011”, “Digital Music Retail Dollars Are Up By 44%”, “Music Sales
Volume Is Up By 85%”, and “Music Metrics Show Paid File Sharing Trends On the
Rise”.
Staying Ahead of the Curve
To stay ahead of the curve industry professionals are
looking at the key elements that compel a person to download, purchase, or view
content released by major labels.
Peter Spellman has a great blog about jumpstarting careers
in the music business and also lists several
different ways a person can capitalize on the current market trends and the
near future in the music business. A few of these examples include:
1. Empowering the music consumer to view content through any
medium they’d like, such as AOL Music, XM Radio, iTunes, etc. 2. Using a music
product as a music service, meaning “anywhere, anytime listening and entertainment.
3. Building creative alliances with existing companies, taking advantage of low
overhead and the ability to morph as a project. 4. Segmenting music markets and
niche market cultures into micro-media off-spins with high-quality music and
releases. 5. Know and understand that the next big thing starts out small. In
yesteryear there were only three major networks and if an artist were able to
get on one of those networks success was almost guaranteed. These days, there
are hundreds of smaller networks, take advantage of the smaller ones and create
one gigantic representation of the featured product.
The Future of the Music Industry
Many speculate as to where the future of the music industry
will be, no one quite knows for certain how each stage of evolution will play
itself out, but what can be determined by the direction of the industry,
according to Jason
Ankeny’s webinar and blog, the future of the music industry lies within
each mobile device.
Streaming media services like Spotify,
Rdio, and Deezer have ushered in a new era of
mobile experiences that are not only redefining how users discover and share
music but also how the record industry will promote music in the future.
Some of the advantages of the “music on demand” approach
directly affect the physical cost of the products’ production. Digital
technology is easier and more convenient to the consumer and gives the artist
more budget money to concentrate on the quality of their recorded product and
marketing strategies. The royalty returns are usually fair and the reach of the
product can grow on a large scale without having to wait on CD pressings,
factor in shipping costs, or allow for product breakage.
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