Sunday, December 29, 2013

15 Under-Appreciated Events That Affected The Music Business In 2013

Music Business image from Bobby Owsinski's Music 3.0 blog
We’re coming to the end of 2013, so now is a good time to look back at the music business happenings of the year to see the trends and events that affected it. The following 15 events may have been taken lightly at the time, but at least some of them will have a lasting effect on the industry.

The events are broken into three major areas: music distribution, artists and record labels, which all include tech and marketing related events to some degree. Here we go, in no particular order of importance.

Music Distribution
1. Spotify sets its mobile service partially free and expands into 55 countries, then licenses the Led Zeppelin catalog to help with the promotion. Time to get all the market share possible before the deep pocket competitors like Apple and Google hone in on the sector. 

2. Crying poverty despite 72 million monthly active users, Pandora tries to lower its licensing royalties by buying a terrestrial radio station. Royalty collection organizations, artists and songwriters decry the move as suits fly back and forth. Bottom line, Pandora still loses money.

3. iTunes Radio is unveiled amid much fanfare in September, reaches 20 million users in a month, then disappears from the public consciousness. Is the service a sleeping giant or just sleepy?

4. Beats Music and YouTube Music both postponed their launches until 2014. The streaming music services competition is stiff; they have to get it right out of the gate.

5. Twitter’s #Music lies dormant after few adoptions, which proves the point - just because you have a large user base doesn’t necessarily mean that users want to get their music from you.

6. Pirating decreases as users find that streaming is more convenient and efficient. Pirates are also found to be some of the most prolific music consumers, so is the decrease good or bad?

7. The first YouTube Music Awards show proves that it’s what seems like a good idea isn’t always so, as it draws shockingly few viewers. You can be the largest online music portal, but that doesn’t mean that users want to watch your event. Read more on Forbes.

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