Is music tech the new music industry?

By Kevin Callus - Brands Senior Account Manager 

The music industry is seeing a disruption with advances in new technology. New developments in this area are having a direct impact on everything from records, radio, streaming, live gigs and much more. If anything, technology is pushing music forward and the industry is reacting by embracing this and adopting it.

It is a current talking point which is being addressed at all the major music trade events such as SXSW and ILMC. For example, only recently a panel discussion took place at SXSW 2017 to address blending technologies, brands and music. ILMC presented a dedicated talk on new technology and hosted speakers from app developers, a platform introducing bot technology to music artists, through to production companies which creates staged holograms in live concert environments. These are all innovative ideas and platforms to integrate technology within music for a better customer experience and help overall business objectives.

There has also been a notable rise in venture capital companies finally investing in music tech startups. We have seen startups such as Amper (artificial intelligence for music), MAX (technology that redefines brand-artist partnerships) and Dubset (technology solutions for artists, labels and distributors), which have announced fund raises. Last month TechstarsMusic revealed a new programme to invest in this area - all of which speaks volumes for the music industry moving forward.

The impact of social media has had an incredible impact too. The introduction of converting analogue music into digital files has led to the popularity and trend of consumers sharing data with each other. This has changed the music business from one of a sale of a recorded goods to sharing of information - and social media has fuelled this. It is this data which is interesting. Artists can tap into it to further their own creativity. For them, they can understand how a fan or listener feels about a new piece of music and this will prove more valuable than money. The streaming platforms are in a great position to capture this.

This is all having an effect in how we operate as a PR agency. Ensuring we understand the changes in the marketplace is important and influences what we recommend to clients.

The industry is an unrecognisable place compared to 10 years ago. Technology is leading a change in everything we do. We are sure to see new platforms and technologies emerge, which will ultimately arm artists and brands to help them benefit their businesses.