Saturday, October 5, 2013

How Social Media Is Changing The Music Industry



There is no doubt that social media has made it possible for fans to get closer to their favorite recording artists. Platforms like Facebook and Twitter allow users to follow them and even get the possibility to communicate with them personally.  Social networks allow musicians to have engagement with fans as well as using the platforms to promote and distribute their music.

Myspace, recently re-launched the social networking service with a strong music emphasis with plans to revolutionize the way that music is discovered and experienced. Justin Timberlake, musician transitioned to businessman bought Myspace along with Specific Media for $35 million. Fans are able to follow their favorite artists in a brand new way and the musicians can closer to their fanbase and share new music to old and new fans.

Spotify is a digital music-streaming service that gives you on-demand access to millions of songs on all your devices. Here you can listen to a massive library of songs, including new released albums, users can follow artists, and listen to the music that they’re currently listening to. Just like the users, musicians build playlists of their favorite tracks and the fans are able to listen as well as be updated when new songs are added.

A great example how someone used social media to their advantage is hip-hop mogul Jay Z. Jay Z is rapper turned entrepreneur that is very successful and continues to break barricades in music and the corporate world. One of my favorite quotes from him is “I’m not a businessman, I’m a business, man.’ During the 2013 NBA Finals of game 5 half time show, Jay Z took over with an extensive Samsung commercial promoting his then upcoming album Magna Carta Holy Grail, for free to select fans. Samsung users with androids were encouraged to download the aap, JayZ Magna Carta, and the lucky first one million who downloaded a copy of the album on July 4th got it for absolutely free. Shortly after the album’s release Jay Z hopped on Twitter to answer questions from his fans about their favorite tracks. It was a pretty big deal because he barely ever tweets and when he does it’s sporadically. Twitter went nuts! Social media is definitely contributing to the reshape of how the world gets music.