The Advent of Streaming Media Era (2)

No one could have predicted how streaming would change the music industry.

The main reason why streaming media services can survive and develop healthily is that consumers are willing to pay to become members because there are three reasons: there is no advertising, listening to music at will, and a huge music library of millions of songs. This makes consumers willing to consume on streaming media platforms.

It is shown in IFPI Engaging with Music 2021 Report that due to streaming media, fans have made their own listening choices - the main reason why fans participate in streaming media is that they can choose their favorite songs, artists, and their own playlists. 68% searched for specific songs and 62% listened to the playlist they created more than once a week. The time to listen to music by subscribing to audio streaming media increased by 51% because music fans continue to accept streaming media because it provides access and autonomy to choose artists and their favorite music.

In general, streaming media not only brings a large number of music works, but also brings a large number of users, and forms an integrated music transmission system with social networks and other Internet services. It brings music playback, distribution, and consumption together and has a populist payment system.

These changes prompted the music industry to eliminate the original record as the carrier. Since then, the music industry has completely entered the era of streaming media.