Introduction: The Rise of Streaming Companies and What It Means for Us
We’ve all been there: you walk into your friend’s room only to discover that their stereo is blasting the latest pop song by Taylor Swift. You shake your head and sigh to yourself, where have we gone wrong? Or maybe you’ve just finished writing your novel, only to find that the music your character listens to is a commercial by the insurance company you’re supposed to be pitching to. You start to sweat, where has your creativity gone?
Well, it’s been replaced by streaming services.
In a world where even the smallest of kids are using iPads, streaming services have become an integral part of our lives. When we want to listen to music we don’t go to the radio or put on a CD; instead, we grab our phone and search for whatever song we feel like listening to. We can also use these services to watch movies on the go. If a movie is playing on TV and we don’t have time to watch it, we can just use our phone or tablet and stream it over WiFi.
1. Exclusive Content Is a New Way to Monetize
Streaming companies have been getting more and more popular. People now rely on these companies for a large portion of their daily entertainment. The question is, why? The answer lies in the monetization of content. Companies such as Netflix and Spotify provide you with a plethora of hits to choose from and don’t ask you to pay one cent; all they seek is your attention. The more you listen to the more your number of monthly listeners grows, and with it so does their profit.
Pandora has taken the same idea as Spotify and made it their own. They introduced “exclusive music” to you, which means that you get a certain number of station choices, but they only play songs that have been pre-approved by Pandora. They do this because they want to increase your attention and keep it on their site, therefore increasing your chances of being listened to time and time again. This, according to Pandora’s chief creativity officer Richard Barton is called “bringing people back in.”
2. Subscription Pricing Models Are Changing How Consumers Think About Their Subscriptions
The day of paying a $60 monthly subscription is long gone. The world has finally realized that the age of streaming is here, and subscription costs are no longer a feasible way to pay for your music fix. For example, Spotify only charges about $9.99 for a month’s worth of access to their content, and Netflix charges just $7.99 per month to have over 6000 movies at your disposal whenever you please (provided you have an Internet connection). This allows for a more flexible pricing model for consumers. After all, why would you pay $12.99 per month for a movie rental company like Blockbuster when you can pay $7.99 per month to have Netflix and get significantly more content?
The same thing is happening with subscription music. Consumers are realizing that getting a single album per month for $9.99 is more than they would pay anywhere else to listen to the music they want, so it only makes sense that they take advantage of this new service. Consumers also like that there are no ads on this platform, and many others love the added bonus of obtaining every album from an artist’s discography for only a slightly higher price point.
3. The Future of Marketing for Streaming Services
Streaming services that provide us with free content in exchange for our time have risen to power, and there’s no stopping them. In a world that is constantly evolving, people are always looking for something new and exciting to pique their fancy. With streaming services providing us with the most up-to-date entertainment available either on the web or in our living rooms, this is a trend that will probably continue to grow. With that said, the question remains: how will these services continue to grow, and what marketing techniques will they use?
2016 has been a crazy year for the music industry. No longer are trends limited to rap, pop, or hip-hop music; artists all across genres have embraced different kinds of music and pushed it to another level. This was also apparent in film. The success of the box office smash “Suicide Squad” proved that even action and superhero movies can be developed from the ground up to appeal to different audiences. Fans have responded positively to these developments, but more importantly, we have been inspired by these changes. They are a cause for celebration, but these success stories have led me to ponder how the music industry will develop as streaming services continue to grow. Will the music industry fall into a rut, or will it achieve new heights?
4. The Major Drawback To Streaming Services That Nobody Told You About
Streaming services provide us with a lot of great content, but they don’t allow you to format or change the songs or movies that you are listening to. This means that a lot of your hard work and creativity can be lost if you’re not careful. Check out this link on how to fix this problem: http:www.makeuseof.comtagfix-cant-change-song-message-on-spotify-and-other-streaming-services
Streaming services are great for a lot of reasons, but one major drawback is that you can’t change the songs. As you listen to the song over and over again, it probably gets really annoying to have the same song over and over again, especially with things like Spotify where they have a “new” song option. There are many other streaming services out there that also offer this feature, so it’s important to check before you buy. To learn about some of the other great features that may come with your service to compare, click here: http://www.makeuseof.com/tag/streaming-services-what-is-better-spotify-or-pandora/
You can use this link to learn how to fix problem with Spotify not playing the song you want it to play: http://blog.shinesty.com/how-to-fix-spotify-not-playing-the-song/