This article was taken from the June issue of Wired magazine. Be the first to read Wired's articles in print before they're posted online, and get your hands on loads of additional content bysubscribing online
Wired asks some leading music industry experts what they think will be the biggest change on the horizon for the music industry.
Krissi MurisonEditor, NME"The MP3 looks likely to suffer the same decline in sales as CDs did, with streaming becoming the norm. But will the meagre subscription and advertising cuts that bands and labels make be enough to sustain them? If not, who will take financial responsibility for developing and touring new artists? That’s the challenge."
Derek SiversFounder, CD Baby"'Music industry' will become an unusual phrase, like 'poetry industry'. Making music is as easy as writing poetry. There’s no money in it. This shake-out is healthy. With no industry pushing manufactured hits on us, the only music bubbling up to public recognition will be the truly powerful or fascinating."
Karlheinz BrandenburgDirector of the Fraunhofer Institute; MP3 co-creator"We will see new forms of listening to music and creating music: intelligent applications will replace our current idea of an album or playlist. Recommendation and access to the artists will allow a new way of enjoying music. Interactivity will blur the lines between listening, creating music and computer games."
David ToopComposer, author and curator"The MP3 plunged music back into the 78 rpm era -- throwaway, poor quality, lacking in extras. Upcoming higher-fidelity formats with sleevenotes and visuals can solve that. The extras will need an evolved iPad type device. Touch-control software could generate radical performance ideas to lift us out of the dark ages."
Tim WestergrenFounder and chief strategy officer, Pandora"Internet radio in the car. About 80 per cent of music consumption is radio. Half of radio listening is done in the car. IP-delivered personalised radio in the car changes the entire equation for listeners and artists. Listener control and artist access will turn the industry upside down. For the better."
Daniel EkCEO and founder, Spotify"We’re going to see a continued shift from ownership of music to access to music. As a result, we’ll see the URI [uniform resource identifier] become the new MP3, simultaneously ushering in a new era of sharing, discovery and social connectivity around your music and friends."
This article was originally published by WIRED UK
