The State of Today’s Music Streaming
Streaming has become the dominant force in the music industry, with its significance growing year after year. In the U.S. alone, streaming accounts for nearly 80% of recorded music revenues, showing just how powerful the future of music streaming truly is.
Spotify, sometimes referred to as the “Netflix of music,” dominates the market with around 248 million active users as of late 2019, 113 million of whom pay for premium access. These music streaming trends confirm that streaming is now a global phenomenon, driven by a borderless, internet-connected world.
The State of Tomorrow’s Music
Looking ahead, the music industry can increase revenue not just by expanding streaming and global audiences, but also through adopting new and upgraded technologies.
Contemporary AI-powered home assistants — such as Google Home and Amazon Alexa — make accessing music easier than ever. Fans can simply call out a song while cooking or relaxing, and instantly hear it.
Another technological shift comes from wearable like Air Pods, enhancing how people experience music on the go.
Yet, even with technology booming, a survey conducted by Think well shows passionate fans are willing to pay to support their favorite artists for as long as possible.
Technology Powering the Future of Music Streaming
For the future of music streaming to grow, the industry must also embrace advanced technology and fresh innovations. Contemporary AI-powered home assistants, like Google Home and Amazon Alexa, are transforming how people interact with music. A listener can now simply call out a song while cooking or relaxing, and the device will instantly play it.
Wearable technology — including devices like Air Pods — is another critical factor shaping music streaming technology, letting users enjoy high-quality, on-the-go audio experiences seamlessly.
Even with the rise of smart devices, a 2020 Think well survey found that passionate fans are still willing to pay to support their favorite artists through these streaming platforms, reinforcing their value.
Why Live Music Experiences Still Matter
While the future of music streaming is bright, live music will always have a special place in the industry. The power of real, in-person performances cannot be replaced by technology alone. Live shows create memorable, emotional connections that streaming cannot fully replicate.
As a testament to its growth, live music revenues are expected to reach nearly $30 billion globally within just a couple of years, showing that both music streaming technology and live concerts will coexist to define the future of music.
How Canyon Entertainment Group Supports Artists
At Canyon Entertainment Group, we understand that music is more than streams and charts — it is human connection. That’s why we continue to support emerging artists by hosting virtual concerts, live performances, and collaborative opportunities, even during uncertain times.
Through initiatives like the Star Pow-R online concert series, Canyon Entertainment Group helps local and rising musicians reach global audiences, empowering them to build sustainable careers in this ever-changing industry.
To find out more about how Canyon Entertainment supports artists and their future, visit canyonentertainmentgroup.com
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