The music industry has been reeling since the start of the 21st century with the advent of online music. From social media to video sources to cdns, online listening has been steadily increasing for the past twelve years. The industry has tried to stay with its traditional methods of selling records but has been left behind. According to a new report by the Next Big Sound, the numbers of online listens and shares and the benefits for artists are elements the music industry can’t ignore.
The Next Big Sound 2012 reports staggering numbers based on online statistics they collected via social media and other CDN channels. These numbers state that certain artists “added close to 100 billion new plays and over 5 billion new fans” in 2012. Those are astounding figures on any count, but are even more remarkable in light of the music industry’s traditional tracking method of record sales.
The report looked at social media sites like Facebook and Twitter as well as video sites like YouTube and other music CDNs to gather their data. It found that artists who promote content online have larger fan bases, higher levels of fan engagement, and greater online consumption than artists who do not publicize online. Not surprisingly, it is independent artists, rather than those signed by labels, who experience the greatest benefits from online music sources. The report found that indie artists sell twice as much as non-indie artists online. This is likely, in part, to the fact that there is more sharing and online listening of music than ever before.
According to the Next Big Sound, a respected data analytics company, the music industry should get on board with music CDNs. They are clearly the wave of the future.
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