The Future of the Music Industry

In the last ten or so years, the music industry has gone through a variety of changes and has been forced to adapt in many ways. Indeed in some respects they have failed to adapt to some of the bigger issues (eg downloading). However, there have been some companies that have taken advantage of these changes, more specifically in this article: Apple and Google.

Now Apple is the obvious case here: the development of the iPod in 2001 and the launch of iTunes (the first successful place to legally download from) established the company as a key player in todays modern music industry without actually being a music label or a publisher. 

Google is the one company that people would not instantly assume goes hand in hand with the music industry. However with their recent purchase of YouTube, it has lead them to become quite a powerful presence. 

This leads me onto the main point of this blog: What is the future of the music industry? My personal opinion is that these two companies are the future. There are constant rumors of a cloud based subscription service (similar to spotify) ready to take over from what foundations Spotify created, and I also believe its something that will be coming to the public in the next year or two. It is the concept of no ownership but infinite access, and if these cloud based services become reality; i think it will change the entire concept of the music industry forever. 

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