The streaming revolution is built upon relentless innovation, both in experiences and products. By delivering enormous value to hundreds of millions of fans, streaming companies help connect more artists with more fans, grow revenues for the entire business and create a more healthy and stable music ecosystem for everyone. The resiliency and value proposition of streaming was evident in 2020, when the “full-fledged consumer embrace of streaming helped avert a total collapse of the music business.”
Check out DiMA’s Top 10 Music Innovations from the past year to see how streaming companies continue to transform the music experience, or learn how streaming companies leveraged their platforms to go Beyond Streaming in response to the COVID-19 pandemic.
The modern digital consumer expects instant access to the licensed music they want, when they want it. There’s no going back. If music history has taught us anything, it is that we cannot rest on the status quo. We must constantly innovate and deliver value to fans in a competitive marketplace. We are committed to promoting and expanding a dynamic and evolving music experience. We believe it is imperative to promote policies that foster an innovative music marketplace and encourage future advances in technology rather than erect barriers to new ideas.
Modernizing the Music Experience
Streaming has reinvigorated the music industry and represents both the present and future of music; the time is now to ensure that progress is sustained and allowed to flourish. Some of the big trends right now include:
The Rise of Smart Speakers
90% of the 71 million smart speaker users in the United States use their devices to stream music – some listening for over six hours every week.
High Definition Music
The relentless innovation of the streaming industry also extends to the audio quality of the music fans can access at the push of the button. New technological improvements have made high definition (HD) music a reality like never before.
Data-Driven Insights
Data is revolutionizing the way creators understand their listeners and is empowering more direct connections with fans – from creating targeted campaigns and raising awareness of new music and tours, to identifying new opportunities to engage.
Discovery & Personalization
Harnessing technology allows fans to discover and personalize the music they listen to at the simple push of a button. From finding new songs and artists, to creating the perfect playlist for at home or on the go, new features give fans a listening experience tailored especially for them.
