NEW YORK (Hypebot) – The upheaval being felt in the music industry is playing out is similar ways throughout the entire entertainment and media industries. What's ahead for 2010 is anyone's guess, but that hasn't stopped consultancy Booz & Co. from releasing it's 2010 Media Industry Perspective. Whether you are a fan of predictions or not, this list of trends provides a useful framework to access the music and music tech industry's change efforts.
"Previously, winners were defined by their strengths in content development, packaging, and distribution – all key for an entertainment world characterized by scarcity," reads the introduction to the report The digital era is characterized by unprecedented levels of consumer choice, ubiquity, and interactivity. To succeed in this more dynamic environment, companies need to acquire and build new skills. They must excel at developing deep audience insights; building consumer relationships across multiple platforms and user environments; creating targeted content, applications, and advertising opportunities; and managing a mix of monetization models across advertising, subscriptions, and commerce".
Whether you are a fan of predictions or not, this list of trends provides a useful framework to access the music and music tech industry's change efforts.