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Phoenix666 [soylentnews.org] writes:

In the music industry predicting the future is all-important [forbes.com], and this operates on all scales – from deciding what an individual user of a streaming service wants next in their playlist, to discovering the next Gangnam Style. And recently it has been shown that Big Data has the ability to do just that. Researchers at the University of Antwerp showed that they were able to create an algorithm that was able to predict, relatively accurately [vice.com], the position that dance records would chart at in the Billboard Dance Singles chart. By analyzing all of the records which made the chart from 1985 to 2014, it was able to predict that every record which made the 2015 top 10 had at least a 65% chance of doing so. In the case of seven of the top 10, it was 70% certain that they would make the grade.

The Internet of Things could be finding its place in pop music, too. This year, attendees at Taylor Swift’s world tour concerts were provided with LED bracelets [networkworld.com] controlled through RFID technology that change color and pulse in time with the music. With the music industry relying on live music performances for a growing chunk of its revenue we can expect increasingly creative ways to create new experiences for live audiences.

It’s true that there are ongoing concerns about the streaming model of music distribution – both in terms of royalties paid to artists and whether they will generate money in the long term. However by doubling its subscriber base in the last two years from 10 million to 20 million [spotify.com] Spotify has proven the popularity of the model, if not yet the profitability. If it doesn’t, then perhaps rival Apple, who this year launched their own streaming music service (heavily featuring Taylor Swift), will.

The music industry has undoubtedly changed to the point it is barely recognizable from that of just 20 or so years ago. The internet has made it easier for unknown artists to gather a fanbase and get their music heard, with many even taking advantage of crowdfunding platforms such as Indiegogo or Patreon to make their money. It is likely to change even more in the next 20, and data analytics is likely to continue to be a driving force behind that change.

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