Electronic music musicians are having their say in the future of the music industry with the release of a new book that explores how digital technology is changing the business of music.
The book is called The Future of Music and has been released in the UK, Australia, New Zealand, Europe and North America.
The digital revolution is changing music forever.
Music, in the modern sense, has been around for hundreds of years, but the last century has seen the rise of streaming services, music streaming services and even an online store.
In 2017, the world’s biggest streaming service Spotify became the first music company to sell over 1 billion songs in a single year.
With these new services, artists are able to monetise their music with new revenue streams such as downloads, streaming and merchandising.
Spotify’s new CEO Daniel Ek says the rise in digital revenue is changing business models in a way that’s been seen in other industries.
“There’s no longer a one size fits all approach,” Ek told The Conversation.
“Music is changing from a way to make money to a way for artists to make a living.”
Ek believes that a digital revolution in the music business is inevitable.
“I think that the music world is changing,” he said.
“That’s why we’re here.
Ek says that music companies like Spotify, Universal Music Group and Apple Music have seen massive growth over the last couple of years. “
If I were a music fan, I’d be very interested in the new generation of music that comes out of that.”
Ek says that music companies like Spotify, Universal Music Group and Apple Music have seen massive growth over the last couple of years.
But the rise and fall of the digital music business has been slow.
“A lot of the changes we’ve seen in the last 15 to 20 years, the music businesses have been in a tailspin,” Ek said.
In a time of digital disruption, Ek believes it’s important that digital music is still considered a traditional business model.
“It’s a business that is built around what it was built around, and that’s how music is made,” he explained.
“So it’s something that we’re going to keep trying to retain.”
But there’s also a new generation that Ek believes is entering the music sector.
“People who are getting involved with this business are coming into the industry with very different business models,” he added.
“They’re looking for ways to make their own money, they’re looking to make more money, but they’re also interested in how to get in there as an artist.”
Ek said he believes it will be up to artists to lead the way when it comes to the future.
“The thing about digital music and the future that I believe is very important is that it’s going to be the new face of music,” he concluded.