Top 3 Topics At NMS 2015
After New Music Seminar 2015 ended, we're taking a look at the top 3 topics discussed at the annual music convention.
With the rising popularity of Spotify & Pandora, the imminent release of Apple Music, and the sudden release of Google Play Music, streaming was widely discussed as the top music executives came together for this 3-day conference. With doubts over whether streaming would catch on only a few years ago, NMS 2015 established that streaming isn't merely an up-and-coming platform, it's the future and the present.
With streaming comes compensation. How much are artists paid from each of these services? Is that fair? Can artists sustain themselves? What about rising musicians? These were all questions that both the executives and journalists addressed over these days. With the early commotion surrounding Apple Music's three month trial and questions from the audience about Spotify's $.000075-per-stream platform, people in the music business are very worried about the sustainability of streaming for artists.
With great technology, comes great data. There are a ridiculous amount of companies now compiling data in the music business. With this amount of raw data, the question becomes: what is "useful" data? Within the next few years, the companies that will have the greatest impact are the ones who take this wealth of information and look at it from the correct angle, at the right time, under the correct circumstances. Most people at NMS mentioned data at some point, but the real concern was who is going to lead the pack in interpretation?