Is this good news or bad?
It may be both. While music retailers like Circuit City and Peaches may have lost their share of the market, technology and social media are making it easier to connect the music industry to its publics.
For years, as Napster caused record labels to lose profitability, music executives feared that the ability to share music online would be the death of the recording industry.
They may have been right to some extent...but for every death there is a new birth. In this case, the convergence of social technology and the music industry has spawned new markets.
Facebook is among the first social networks to take the initiative in the aftermath of the Napster war. Facebook CTO Bret Taylor said, "Music was destined to be a big part of Facebook's strategy because it is tied to people's identities."
Facebook is among the first social networks to take the initiative in the aftermath of the Napster war. Facebook CTO Bret Taylor said, "Music was destined to be a big part of Facebook's strategy because it is tied to people's identities."
Facebook's vision was to create a space where people can learn things from their friends and sharing the music they love was always part of the vision.
Despite the resistance from record labels, newer music companies are now scrambling to attract as many Facebook fans and users as possible.
Steven Levy offered his insight in, "Facebook, Spotify and the Future of Music" at Wired.com. For a look at the full article, click HERE. Thanks for tuning in to this first chapter in Facebook's historic impact on this industry.
What Can You Do with Music on Facebook?
Not only can users express interest in their favorite artists on Facebook but the network has partnered with 16 different music services (including Spotify, Rhapsody and VEVO). On Facebook users can stream music, listen with their friends, and artists can create pages to showcase, sell and share their own music with other fans.
How is this changing the job of publicity managers? PR practitioners can more easily target each artist's audience through social media. Facebook is the largest social network which means it reaches more music consumers than some traditional PR tactics.
Social media tools like Facebook provide platforms where consumers and musicians come together in the cloud. Facebook is now linked to tools we've discussed in past posts - Reverbnation, Spotify and even Myspace has a music app on Facebook.
Let's face it - Facebook is quickly becoming a one-stop-shop for content and the music industry lie many others needs to take advantage of every opportunity to keep its publics engaged.
Until next week, keep rockin' n rollin'!
Lauren & Brittany
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