BDAs vs Non-BDAs: The Music Business| No Comments
In the last 15 years, few industries have been more fundamentally disrupted than the music business. MP3s, iPods, YouTube and the ability of bands like OK Go to build a massive fanbase without the “help” of a record label have changed the way we listen to and purchase music. Now with the advent of Big Data Apps (BDAs) like Pandora and Spotify, the model for consumers, artists and record companies has change again.
Music BDAs decrease the marketing and distribution costs while creating a platform that defrays costs and opens up additional revenue streams, like advertising. From the consumer’s perspective, BDAs enable them to use ad supported streaming services for free, or upgrade to premium services that enable more customization and mobile access.
As I said in the Anatomy of a Big Data App webinar last week, BDAs delight customers. If BDAs, artists and labels that can turn that delight into revenue, everybody wins.