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Great news for the music lovers! Last month T-Mobile announced that customers owning the latest T-Mobile phones and tablets will not have to worry about going over their data when streaming music. Users will be able to use apps like Pandora, Slacker Radio, iHeart Radio and Spotify whenever and wherever they want. This is really great for the customer. But will the musicians benefit from this? Or the industry?
Here are some possible implications:
- The artists will reach more fans and potential customers when streaming is more accessible. This is especially true for the independent and not (yet) so well-known musicians. The increased exposure will lead to more royalties, increase in music sales and ticket revenue down the road.
- The record labels will also benefit from this increased exposure. The users of Spotify or Pandora who want to find more about their favorite artist music, will research the label associated with them. Indie record labels feature bands with similar music, so a fan of one band can become a fan of other bands on the same label.
- This new streaming plan implemented by T-Mobile will give the customers the freedom to listen to what they want, when they want. This will provide real data to the industry involved members what music people actually want to hear. Artists could then begin shaping releases more closely to the tastes and preferences of their listeners. In a sense, it’s creating an automated feedback loop.
It seems that all participants in the music industry will have some benefits. The future will tell if we were right....
Full article: http://www.musicthinktank.com/blog/what-does-free-streaming-mean-for-the-music-industry.html
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