The future of Streaming Services Busniess

Streaming services are the future of the music industry. Yet. it changes everything. And now no one can e so sure that what will happen in the next few years. So you should be ready to face the future of streaming services .However, the change in recent years shows how quickly it can change. But what could come after streaming?

A new album of the favorite artist has been released. You go to the store and buy it…. That's how it used to be. Today you stay at home and "stream" the whole album to your smartphone within a few seconds. Always available. For at home and on the go, and that feels free.

In view of this development, the music industry seemed completely lost a few years ago. Fewer and fewer people were still buying sound carriers such as CDs or even records. Sales fell dramatically, former major labels were in the red, and musicians suddenly had to look for a second job.
The industry was practically dead by the end of the 2000s when a new way of using music came up that was faster, more innovative, and simply easier. The streaming. Spotify, Deezer, and YouTube brought about a resurgence in the music business and are now front runners in terms of usage and sales figures.

The end of CD and vinyl?
According to the "Music Consumer Insight Report 2018", 86 percent of people worldwide use streaming services to listen to music. It is clear that the days of physical music carriers are drawing to a close. But will the music industry soon limit itself to the current streaming concept?

 it can hardly be assumed that music streaming is the end of the trend," says Florian Drücke, Chairman of the Board of the Federal Association of the Music Industry.

The fact is that streaming audio is the most popular way of listening to music with 255 million paying users worldwide. CDs and vinyl have long been threatened with extinction.

The Swedish streaming service Spotify only recently cracked the 100 million premium subscriber mark and thus reached "an important milestone" according to its own statements. And other streaming services like Netflix and other free streaming websites kissanime also doing great in their business.  Nevertheless, the company is always in the red, with sales of one billion dollars a month.

So if the market leaders reach such milestones and still have such problems: What does that mean for the future?

On the way to the "streaming economy"

Either way, the music business is likely to be increasingly dominated by audio streaming. Above all, the fact that half of the music industry's sales are generated in this way shows a clear trend for the future.
Streaming has made the music industry flourish again. Even unknown musicians now have the opportunity to get a piece of the pie even without a major record deal. However, even Spotify and Deezer cannot escape the constant renewal of their concepts, because the competition in the form of large corporations and modern technologies never sleeps. Florian Drücke is also certain: "Streaming will certainly be with us for a long time, but we will also certainly experience new forms of use."

Maybe this isn't that far away after all. The "Endel" app is able to continuously produce new music by itself using algorithms. This is currently only used as relaxation music, but in the next stage of development, this system could soon also be used in everyday life.

But: Whether streaming or algorithm - these technologies cannot replace the experience of a live concert - not yet.