The (r)Evolution of Music Experiences
The first time I recorded music, it was in a dingy basement were we didn’t know multi-track recording existed. The stereo playing the beat laid on the bed next to the mic stand and I remember freestyling about the aftermath of Hurricane Katrina. It was 2006 and the business of music was entirely different. Limewire was still the beast it was and I spent most of my middle school days online sharing my music on Bebo & Myspace with SoundClick players and YouTube videos. Feel old yet or were you even around then?
Today’s climate of distribution and consumption has evolved well beyond pirating music via torrent software. Much like the transitions from cassette to CD, CD to mp3 and now mp3 to streaming, we are currently living in the next transition, immersive technology and decentralized music blockchain platforms. But what doest that mean and how can the industry, the artists and the various stakeholders stay ahead of the curve?
By 2021, virtual & augmented reality, cryptocurrency and other blockchain technology is expected to make waves into the mainstream. A treasured experience of traveling to a record store and playing that brand new CD in your car will change to paying musicians in crypto and receiving access to a virtual reality album release party. Every time a transition occurs as a byproduct of technology, the industry can’t keep up and a window opens for artists to take back more control. And as technology becomes readily accessible to consumers and market developers, the idea of independents disrupting is a greater possibility. But with anything, a financial investment is required to convert noise into purposeful attention. But this is were the new artist development walks in.
As the industry adapts to the changes of technology, artists have the greatest opportunity to retain ownership and rights in how their intellectual property is exploited. Gone are the days of middlemen controlling the logistics of how your works can be distributed and consumed. We live in an era were creatives get to explore, innovate and add their contribution to culture. Musicians have the ability to segment current and potential fans and tailor experiences for those segmented audiences. Whether you have the infrastructure to take your music to the world or create a hyperlocal experience for your die hard fans, it’s time to get the most creative.