With the birth of the 20th century, Information Technology slowly and steadily took over the world and brought nations closer. Over time, the scaling nature of IT has helped with several other industries in managing handling information that is stored across devices. In the financial industry, security of people’s information has been carefully locked with the help of high tech encryption and Big Data has helped with the careful filing away of information. Anywhere there is a need to manage and categorize extensive data; Big Data plays a huge role. In the music industry, the use of Big Data is seemed by streaming services such as Spotify. The existence and application of Big Data in the music streaming services, ensure that the statistics of the music that is published is readily available for artists and managers to track. These analytics aims to help with understanding the performance of a particular playlist and therefore, provide a lucrative business opportunity for people who thrive on creating playlists. Publishers will be able to carefully collect the royalties that are due to them without any discrepancies in the payment structure.
Empowerment for The Music Industry
The use of Big Data helps with giving artists and musicians an opportunity to be able to earn a steady stream of income. Thanks to this new invention, musicians around the world now have an extra source for their income apart from having to rely on gigs alone. The innovation helps to empower new businesses to find a lucrative revenue model in the streaming services. The use of ‘Big-Data’ in the field of technology helps not only the businesses and artists but also the customers who listen to music. The customers on the streaming services will now be able to find music based on the type of music they have purchased in the past. The intelligent programming of Big Data runs a code to help cater to the right music tastes that customers possess without being flooded with information that they would never use. The need to keep searching for the right kind of music that they like is being eliminated with this strategy.
What Does This mean for Publishers?
Publishers now have an opportunity to understand the music that people like and organize the same on their playlists. Music makers can use this information to develop the music that will sell to the public. Thanks to innovation, musicians can now make music that will sell instead of making music that they hope to sell and then be disappointed. Producers don’t have to spend hours and years scoring through music charts to find the pattern in the music that sells with the public. Instead, building something that will give them the desired effect is what most publishers are after. Even information such as the title of the track and albums can be determined with the knowledge that is collected. Big Data is defiantly the answer to engaging the fans of a particular brand of music around the world.