19 December 2019
Marco Gandolfi
Following the rise of digitalization, the outlook of a number of contemporary markets has drastically altered over the years. In the music industry, in particular, newly-formed streaming platforms have undoubtedly changed the sector from both an artist and listener standpoint.
As a result, we’re going to assess whether streaming platforms have phased out traditional methods of listening to albums. Moreover, we’ll also consider why streaming has become so integral to the music industry and beyond in recent times.
Do People Still Buy Albums?
Despite the fact that CD sales have declined over the last few years, the industry is still selling over one hundred million per year in America, according to an article published on Vice. Even though as a society, we have entered the streaming era, there is still widespread demand for hard album copies. Crucially, the developed audio quality is one of the most integral benefits of buying a CD. Through many contemporary streaming services, sound quality can vary, and while that is dependent on a variety of factors, they don’t always match the finely-tuned sounds that can be experienced through a standard album.
Furthermore, there is also an aesthetic angle as to why consumers still enjoy buying traditional albums or records. Along with being able to appreciate the cover art that has been specifically designed to capture the feel of the music, as MTV News comments, consumers can physically create their own album collection within their home, as opposed to it just being a set of pixels on a screen.
How Has Streaming Changed the Music Industry?
From a creator’s standpoint, the rise in prominence of streaming platforms has resulted in a shift in the construction of new music. As most people only listen to the first few seconds of a song before deciding whether to skip or not, capturing the listener’s attention has, in some cases, seen various genres adopt a more mainstream approach so as to heighten the appeal of their songs. Additionally, platforms such as Apple Music and Spotify ensure that artists can experience success within the industry while also making financial gains without the need for a signed record label, as we read on Invest Handbook.
Furthermore, such services have significantly impacted music accessibility. Through the above platforms, consumers can access and download an extensive array of different genres with just a few clicks. Moreover, outside of the music industry, this availability and convenience-based focus has also been widely utilised. In addition to platforms like Netflix ensuring a similar level of choice within the film and television industry.
Phasing Out, but Still Going Strong
While there are unquestionably several pivotal reasons as to why streaming is set to become the future of the music industry, at present, it’s apparent that consumers still reap the rewards of buying traditional albums. Although there is less choice on offer, the aesthetic appeal, cover art and sound quality of hard copies of records cannot be matched by digital alternatives.
