Written by Roland Trimmel | Categories: News
While innovation in many other sectors of technology has shot up strongly over the past 5+ years, music has been lagging behind. This is not the case anymore, with many new entrants in the race for attracting new customers can be identified.
Here is a closer look at what's going on.
Startups innovating in the music space
Over the past years much of the innovation in music centered around music streaming services and headphones. Much of that can be seen as the aftermath of the shocks the music industry went through after peer-to-peer sharing services such as Napster threatened the existence of the industry, or better said reduced the total revenues substantially.
That's an overly simplified view, of course. It didn't exactly play out like that, but digital media being one of the items hardest hit by declining revenues made investors shy to put their bets into anything music. This changed with the arrival of Spotify and SoundCloud, but even these companies had to fight hard to get off the ground. But thanks to their persistence, and those of many entrepreneurs who weren't featured in the spotlight, things have changed for the better now.
This is visible when looking at the latest breed of solutions being thrown onto the market by developers around the globe. Compared to previous years, not only have respected accelerators such as TechStars opened programs for music startups but also is there a new breed of innovation in the space that is real. A look at the growth in apps created around music, or with music in mind, shows a strong growth line over the past years. And, the same applies to funding which continues to reach new levels unseen before.
It looks that music has finally snapped with developers and investors. And, that's a good sign - are you ready to take it on?